What amount is required to invest to work between three semesters and at a rate of 16.255% per semester with monthly capitalization to form a total of $70,866.31

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 15PROB
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What amount is required to invest to work between three semesters and at a rate of 16.255% per semester with monthly capitalization to form a total of $70,866.31

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