Khloe is going to invest in an account paying an interest rate of 7% compounded quarterly. How much would Khloe need to invest, to the nearest cent, for the value of the account to reach $340,000 in 19 years?

$90,962.66

Step-by-step explanation:

The formula for this is, where V = amount after t years:

V = P(1 + r/n)^nt   where P is the amount invested, r = the rate as a decimal fraction, n is the number of times interest compounded each year and t = the number of years.

Here, V = 340,000, r = 0.07, n = 4 , t = 19 and P is to be found.

340,000 = P(1 + 0.07/4)^(4*19)

340,000 = P( 1.0175)^76

P = 340,000 / (1.0175^76)

P =  $90,962.66

rounding to the nearest thousandth would be 452,000

fist on the left goes with the third on the right. second on the left goes with the fourth on the right. third on the left goes with the second on the right. the fourth on the left goes with first on the right