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to receive a monthly investment payment of $200 at 5.5% p.a simple interest, what would tom need to invest 

Guest Jun 3, 2017
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[5.5%] / 12 =0.055/12 =0.004583333...... This is your monthly interest rate.

$200 / 0.004583333...... =$43,636.36 - This is the amount you must invest.

Guest Jun 3, 2017

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