Question: Alicia would like to accumulate $460,000 for his retirement in 11 years. If he is promised a rate of 3.18% compounded quarterly by his

Alicia would like to accumulate $460,000 for his retirement in 11 years.

Alicia would like to accumulate $460,000 for his retirement in 11 years. If he is promised a rate of 3.18% compounded quarterly by his local bank, how much should he invest today?

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