# Mr. Erel

Mr. Erel earns 12% compounded quarterly. He projected to collect Ᵽ500,000 after ten years. What is the amount he needs to invest?

## Correct answer:

Tips for related online calculators

Need help calculating sum, simplifying, or multiplying fractions? Try our fraction calculator.

Our percentage calculator will help you quickly calculate various typical tasks with percentages.

Do you want to convert time units like minutes to seconds?

Our percentage calculator will help you quickly calculate various typical tasks with percentages.

Do you want to convert time units like minutes to seconds?

### You need to know the following knowledge to solve this word math problem:

**arithmetic**- square (second power, quadratic)
- exponentiation
**basic functions**- percentages
- exponential function
**numbers**- fractions

### Units of physical quantities:

### Grade of the word problem:

## Related math problems and questions:

- Compound interest 3

After eight years, what is the total amount of a compound interest investment of $25,000 at 3% interest, compounded quarterly? (interest is now a dream - in the year 2019) - Future value

Suppose you invested $1000 per quarter over 15 years. If money earns an annual rate of 6.5% compounded quarterly, how much would be available at the end of the time period? How much is the interest earned? - What amount

What amount of money will be required to repay a loan of $30000 on June 1, 2008? If the loan was made on September 1, 2001, at the interest rate of 14% compounded quarterly. - Future value investment

Poseidon deposited 2,747 golden drachmas in a Mount Olympus college savings account to ensure Percy could attend college. It pays 0.04 (percent in decimal form) annual interest. After 11 years, he withdraws the money. How much more money would he have if

- Deposit for house

The current house price is $300000, with prices increasing by 3% yearly. A buyer wishes to purchase the house in 5 years. The bank requires a 10%deposit on the price of the house in order to grant a loan. How much would the buyer need to deposit each quar - Johnny 3

Johnny has $46,754 in a savings account that earns 14% annually. The interest is not compounded. To the nearest dollar, how much interest will he earn in 3 years? - Retirement annuity

How much will it cost to purchase a two-level retirement annuity that will pay $2000 at the end of every month for the first ten years and $3000 per month for the next 15 years? Assume that the payment represents a rate of return to the person receiving t