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How much would you need to deposit in an account now in order to have $6000 in the account in 8 years? Assume the account earns 6% interest compounded monthly. Round to the nearest penny.

Intermediate Algebra

19th Edition

ISBN:9780998625720

Author:Lynn Marecek

Publisher:Lynn Marecek

Chapter12: Sequences, Series And Binomial Theorem

Section12.3: Geometric Sequences And Series

Problem 12.59TI: New grandparents decide to invest 3200 per month in an annuity for their grandson, The account will...

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How much would you need to deposit in an account now in order to have $6000 in the account in 8 years? Assume the account earns 6% interest compounded monthly. Round to the nearest penny.

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