Question: a Determine the initial investment, PV, for a future value of 7200 dollars if the nominal rate of interest is 6.3 percent compounded quarterly for

a Determine the initial investment, PV, for a future value of

a Determine the initial investment, PV, for a future value of 7200 dollars if the nominal rate of interest is 6.3 percent compounded quarterly for 16 years: FV = PV(1+)t PV = 251.93 . (Be sure to give 2 decimal places of accuracy.)

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