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How much money should I invest at an annually compounded interest rate of   5%  so that I have $500,000 in ten years? Express your answer as a dollar value rounded to the nearest cent.

 Apr 26, 2020
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FV=500000; N=10; R=0.05;PV=FV/(1 + R)^N; print"PV =$",PV

 

PV =$ 306,956.63

 Apr 26, 2020

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