Question
A bank account pays 5.3% annualinterest, compounded monthly. How much must be deposited now so that the account contains exactly $18,000 at the end of
A bank account pays 5.3% annualinterest, compounded monthly. How much must be deposited now so that the account contains exactly $18,000 at the end of five years?
$=
must be deposited now so that the account contains exactly $18,000 at the end of five years.
(Do not round until the final answer. Then round to the nearest cent asneeded.)
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Economics Today
Authors: Roger LeRoy Miller
16th edition
132554615, 978-0132554619
