Question: Itzak Perlman needs $20,000 in 4 years. What amount must he invest today if his investment earns 12% compounded annually? What amount must he invest

Itzak Perlman needs $20,000 in 4 years. What amount must he invest today if his investment earns 12% compounded annually? What amount must he invest if his investment earns 12% annual interest compounded quarterly?

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