How much money should you invest now in order to have $70,000.00 in 26 years? Assume that the money earns interest at 11%, compounded annually. $1.35 $307.82 O $4,641.95 O $35,000.00

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 26E
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How much money should you invest now in order to have $70,000.00 in 26 years?
Assume that the money earns interest at 11%, compounded annually.
O $1.35
$307.82
$4,641.95
$35,000.00
Transcribed Image Text:How much money should you invest now in order to have $70,000.00 in 26 years? Assume that the money earns interest at 11%, compounded annually. O $1.35 $307.82 $4,641.95 $35,000.00
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