a)

Karen plans to invest some money so that she has $3,700 at the end of three years. Determine how much should she invest today given the following choices: (Do not round intermediate calculations and round your final answer to the nearest penny.) a. 4.2 percent compounded daily.

Amount required to be invested $__________

b. 4.9 percent compounded monthly.

Amount required to be invested $_________

c. 5.2 percent compounded quarterly.

Amount required to be invested $__________

d. 5.4 percent compounded annually.

Amount required to be invested

$______

b)

Sandra Robinson anticipates needing $690,000 to start a business. If she can earn 4.2 percent compounded annually on her investments, how much money would Sandra have to invest today to have $690,000 in 3 years? (Do not round intermediate calculations and round your final answer to the nearest penny.)

Amount to be invested today $_________