+109 How much money should be invested now (rounded to the nearest cent), called the initial investment, in a Corporate Bond investment that yields 8% per year, compounded monthly for 10 years, if you wish it to be worth $30,000 after 10 years?
HINT : A(t)= A0 (1+ r/12)^12t, where A(t) is the final amount, A0 is the initial investment, r is the growth rate expressed as a decline amount, and t is time in years
A.) $3,240.00
B.)$13,515.70
C.)$66,589.00
D.) $13,895.80
