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How much money should I invest at an annually compounded interest rate of 5% so that I have 1,000,000 in twenty years? Express your answer as a dollar value rounded to the nearest cent.

 Nov 17, 2020
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1,000,000 =   A ( 1.05)^20  

 

1,000,000 / (1.05)^20  = A  ≈  $ 376,889.48

 

 

cool cool cool

 Nov 17, 2020

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