Determine the principal P (to the nearest cent)that will yield a balance of A=2,500,000 dollars when invested at rate r=9% for 40 years, compounded 4 times per year. Round the answer to two decimal places.
A)$173,611.11
B)$14,218.75
C)$1,026,614.38
D)$147,569.44
E)$71,090.14

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The Answer of Determine the principal P (to the nearest cent)that will yield a balance of A=2,500,000 dollars when invested at rate r=9% for 40 years, compounded 4 times per year. Round the answer to two decimal places.
A)$173,611.11
B)$14,218.75
C)$1,026,614.38
D)$147,569.44
E)$71,090.14

Determine the Principal P (To the Nearest Cent)that Will Yield