. An investment fund pays 12% per year, compounded monthly, on all money invested. How much must be invested now to have $6000 when it is needed four years from now?
. An investment fund pays 12% per year, compounded monthly, on all money invested. How much must be invested now to have $6000 when it is needed four years from now?
Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
Problem 27PS
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