Stuart Daniels estimates that he will need $22,000 to set up a small business in 9 years. (a) How much (in $) must Stuart invest

Question

Stuart Daniels estimates that he will need $22,000 to set up a small business in 9 years.
(a) How much (in $) must Stuart invest now at 8% interest compounded quarterly to achieve his goal?
(b) How much compound interest (in $) will he earn on the investment?

Kunduz · Accepted Answer

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