explain please, with financial calculatorHomework Answers
Amount Invested Today = $109040
Future Value(FV) formula 
where, P= Principal amount Invested ;= $ 109040
r = Interest rate ;= 0.07
n = No of Period in a year ;= 4 (Compounded Quarterly)
t= Time period over years ; = 8
= $ 189,870.90
Since, Aristotle requires $ 189,791 in 8 years & he is able to generate this much amount from investing $109040 at 7 % interest compounded quarterly for 8 years. Hence, Yes his target will be able to meet at the end of 8 years.
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explain please, with financial calculator
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