Present Value What lump sum must be invested at10%, compounded monthly, for the investment togrow to $65,000 in 8 years?

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 28E: Interest Rate A man purchases a $2000 diamond ring for a down payment $200 and monthly installments...
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Present Value What lump sum must be invested at
10%, compounded monthly, for the investment to
grow to $65,000 in 8 years?

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