PLEASE HELP!!!!
How much money should be invested now (rounded to the nearest cent), called the initial investment, in a Corporate Bond investment that yields 8% per year, compounded monthly for 10 years, if you wish it to be worth $30,000 after 10 years?

$3,240.00
$13,515.70
$66,589.25
$13,895.80

Question

PLEASE HELP!!!!
How much money should be invested now (rounded to the nearest cent), called the initial investment, in a Corporate Bond investment that yields 8% per year, compounded monthly for 10 years, if you wish it to be worth $30,000 after 10 years?

 $3,240.00
 $13,515.70
 $66,589.25
 $13,895.80

Mercury · Answer

Very similar question was asked and answered here: https://questioncove.com/study#/updates/5f0c93a163cb3dfcb98c2800 Simply replace the numbers in their problem with yours