Determine the principal P that must be invested at rate r = 8%, compounded monthly, so that $500,000 will be available for retirement in t = 13 years. (Round your answer to the nearest cent.) P = $

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Mark M. · Accepted Answer

500000 = P(1 + 0.08/12)(12)(13)Can you calculate P and answer?

Determine the principal P that must be invested at rate r = 8%, compounded monthly, so that $500,000 will be available for retirement in t = 13 years. (Round your answer to the nearest cent.) P = $

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Determine the principal P that must be invested at rate r = 8%, compounded monthly, so that $500,000 will be available for retirement in t = 13 years. (Round your answer to the nearest cent.) P = $

1 Expert Answer

Still looking for help? Get the right answer, fast.

OR

RELATED TOPICS

RELATED QUESTIONS

Two forces of 55N and 85N act on an object simultaneously and the resultant force is 125N. What is the measurement of the angle between the two forces?

What are the values of all the cube roots (Z = -4v3 - 4i)?

1/x-1/2=2-x/2x

I need help trying to sole tan^2 x =1 where x is more than or equal to 0 but x is less than or equal to pi

how do i solve these?

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