how much will you need to invest at 5.65 % compound monthly if you want 225,000 in 7 years

Question

 how much will need to be invested to have 225,000 in 7 years at 5.65 % monthly

Answer 1

P * (1.0565)^7 = 225000

 

P = 225000/(1.0565)^7

 

P=153142.60