John Smith is considering purchasing a retirement product where he will receive the amount of 10000 with payments 3 times per year for a period of 2 years. He can invest at Beep Bank which is offering an interest rate of 24% added 3 times per year on the savings plan. How much should John invest today to purchase this product?

Answer rating: 100% (QA)

To determine how much John should invest today to purchase the retirement product we can use t... View the full answer