My question is: I need to have $70,000.00 in 7 years. What would my initial investment have to be if I put it in an account that pays 7% interest compounded qua How does the answer 60,000=P(1.7410) come from the equation 60,000 = P(1+0.02)^28? I need to see the whole equation. 7/19/2013 | Janet from Lincoln, IL | 2 Answers | 0 Votes