Will give 30 points determine the amount you need to invest to have $22,000 dollars in 4 years if you invest at 5% annual interest, compounded quarterly. add work

$18 034.42

Step-by-step explanation:

The formula for the future value of an account paying 5 % annual interest compounded quarterly for four years is

A = $22 000

r = 0.05

n = 4 times per year

t = 4 years

22 000 = P x 1.220

P = 2 000/1.220

P = $18 034.42

You must invest $18 034.42.

answer: howdy

step-by-step explanation:

a. is correct