Use the present value formula to determine the amount to be invested now, or the present value needed. The desired accumulated amount is $50,000 after 11 years invested in an account with 2.1% interest compounded monthly. The amount to be invested now, or the present value needed, is $ (Round to the nearest cent as needed.
Use the present value formula to determine the amount to be invested now, or the present value needed. The desired accumulated amount is $50,000 after 11 years invested in an account with 2.1% interest compounded monthly. The amount to be invested now, or the present value needed, is $ (Round to the nearest cent as needed.
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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Use the present value formula to determine the amount to be invested now, or the present value needed.
The desired accumulated amount is
$50,000
after
11
years invested in an account with
2.1%
interest compounded
monthly.
The amount to be invested now, or the present value needed, is
$
(Round to the nearest cent as needed.)
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