Find the amount that should be deposited today at 4% compounded monthly to receive $ 8,000 in 6 years. (Round the answer up to two decimal places.) Done

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 6RE: Hsu-Mei wants to save 5,000 for a down paymenton a car. To the nearest dollar, how much will sheneed...
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Find the amount that should be deposited today at 4% compounded monthly to receive
$ 8,000 in 6 years. (Round the answer up to two decimal places.)
Use me to
Done
6.
Transcribed Image Text:BM Find the amount that should be deposited today at 4% compounded monthly to receive $ 8,000 in 6 years. (Round the answer up to two decimal places.) Use me to Done 6.
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