Answer:
$33,210.68
Explanation:
Calculation for How much is this investment worth to you today
Present Value = $1,200({1 – 1 / [1 + (0.12 / 4)]^15×4} / (0.12 / 4))
Present Value=$1,200({1 – 1 / [1 + (0.03)]^60} / (0.03))
Present Value=$1,200({1 – 1 / [1.03]^60} / (0.03))
Present value= $33,210.68
Therefore the amount the investment will worth to you today is $33,210.68
