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You want to have $6,000,000 in an account exactly 16 years from today. They will make equal quarterly payments of $20,000 beginning next quarter and ending in 16 years. The account earns 8.00% p.a., compounded quarterly. You must have $_______ in its account today.

/in /by

You want to have $6,000,000 in an account exactly 16 years from today. They will make equal quarterly payments of

$20,000 beginning next quarter and ending in 16 years. The account earns 8.00% p.a., compounded quarterly. You must have $_______ in its account today.

 
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