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find the amount that Juanita should invest in an account paying 6.15% annual interest so that after20 years, she will have $50,000 if the interest is compounded monthly

 Nov 3, 2015
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50,000 = A [ 1 + .0615/12] ^[12 *20]

 

50,000 / [ 1 + .0615/12]^[240] = A = about $14660.61

 

 

cool cool cool

 Nov 3, 2015

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