What lump sum should be deposited in an account that will earn 8% compounded every 2 months, to grow to $43,543.11 in 23 years?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 5RE: A retirement account is opened with an initialdeposit of 8,500 and earns 8.12 interest compounded...
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What lump sum should be deposited in an account that will earn 8% compounded every 2 months, to grow to $43,543.11 in 23 years?

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