Adam is going to invest in an account paying an interest rate of 4.2% compounded quarterly. How much would Adam need to invest, *to the nearest dollar*, for the value of the account to reach $6,200 in 19 years?

Adam is going to invest in an account paying an interest rate of 4.2% compounded quarterly. How much would Adam need to invest, to the nearest dollar, for the value of the account to reach $6,200 in 19 years?

Learn how to calculate the initial investment needed to reach $6,200 in 19 years at an interest rate of 4.2%, compounded quarterly. This step-by-step guide uses the compound interest formula A = P(1 + r/n)^(nt) and is ideal for high school students in Grades 9-12.

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