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Find how much money needs to be deposited now into an account to obtain $7,300 (Future Value) in 6
years if the interest rate is 2.5% per year compounded monthly (12 times per year).
The final amount is $
Round your answer to 2 decimal places

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Respuesta :

Answer:

x=  $6,284.15

Step-by-step explanation:

7300 = x(1 + .025/12)^72

x = [tex]\frac{7300}{(1 + \frac{.025}{12} )^{72} }[/tex]

x=  $6,284.15  

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