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OpenStudy (anonymous):
Suppose you want to end up with $5,000 in a bank account after 4 years earning a rate of 3.5% compounding monthly. How much would you have to initially invest? Round to the nearest dollar.
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OpenStudy (anonymous):
A=5000 r=3.5%/12=0.2916%=0.002916 n= 4 years x 12 months = 48 months plug them in the formula to get the answer A=P(1+r)^n
OpenStudy (anonymous):
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