Multiple Compounding (PV): Rick Rodriquez Plans to Invest Some Money

question 4

Multiple Choice

Multiple compounding (PV) : Rick Rodriquez plans to invest some money today so that he will receive $7,500 in three years. If the investment he is considering will pay 3.65 percent compounded daily, how much will he have to invest today?

• A) $5,276
• B) $6,722
• C) $6,897
• D) $7,140

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