A bank is offering an eight-year CD that pays an annual percentage of 2.75 % compounded monthly. What should be the starting investment to the nearest dollar to obtain a balance of about $9,500 at maturity? (Hint: the equation from your chapter notes B = P[1 + (r/k)]kt can be used where you are solving for the present value P in order to get a future value B = 9,500.) A bank is offering an eight-year CD that pays an annual percentage of 2.75 % compounded monthly. What should be the starting investment to the nearest dollar to obtain a balance of about $9,500 at maturity? (Hint: the equation from your chapter notes B = P[1 + (r/k)]^kt can be used where you are solving for the present value P in order to get a future value B = 9,500.)