Stark Industries, wants to set up a trust fund for its new research facility, earning 12% compounded monthly. 10 million for its annual operating cost. How much should Mr. Bean invest now? a. 83,333,333.33 b. 96,666,666.66 c. 87,777,777.77 d. 72,222,222.22

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
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Stark Industries, wants to set up a trust fund for its new research facility, earning
12% compounded monthly. 10 million for its annual operating cost. How much should
Mr. Bean invest now?
a. 83,333,333.33
b. 96,666,666.66
c. 87,777,777.77
d.
72,222,222.22
Transcribed Image Text:Stark Industries, wants to set up a trust fund for its new research facility, earning 12% compounded monthly. 10 million for its annual operating cost. How much should Mr. Bean invest now? a. 83,333,333.33 b. 96,666,666.66 c. 87,777,777.77 d. 72,222,222.22
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