Jim Ryan an owner of a Burger King restaurant assumes that his restaurant will need a new roof in 5 years He estimates the roof

Question

Jim Ryan an owner of a Burger King restaurant assumes that his restaurant will need a new roof in 5 years He estimates the roof will cost him 9 700 at that time What amount should Jim invest today at 4 compounded quarterly to be able to pay for the roof Use the Table provided Note Do not round intermediate calculations Round your answer to the nearest cent Answer is complete but not entirely correct Amount to be invested 7 949 52

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