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14. [-/6.66 Points] DETAILS MY NOTES Determine the principal P that must be invested at rate r = 3%, compounded monthly, so that $700,000 will

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14. [-/6.66 Points] DETAILS MY NOTES Determine the principal P that must be invested at rate r = 3%, compounded monthly, so that $700,000 will be available for retirement in t = 17 years. (Round your answer to the nearest cent.) P = $ Submit Answer 15. 6.66/6

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