Use the present value formula to determine the amount to be invested now, or the present value needed. The desired accumulated amount is $80,000 after 12 years invested in an account with 3.6% interest compounded monthly. The amount to be invested now, or the present value needed, is $
Use the present value formula to determine the amount to be invested now, or the present value needed. The desired accumulated amount is $80,000 after 12 years invested in an account with 3.6% interest compounded monthly. The amount to be invested now, or the present value needed, is $
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
$80,000
after
12
years invested in an account with
3.6%
interest compounded
monthly.
The amount to be invested now, or the present value needed, is
$
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