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A town would like to build a new recreation center in 16 years. They predict they will need $18 million dollars. They want to know

A town would like to build a new recreation center in 16 years. They predict they will need $18 million dollars. They want to know how much they should invest monthly in an annuity paying 7.75% compounded monthly.
a) Which formula is appropriate for this scenario?
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A town would like to build a new recreation center in 16 years. They predict they will need $18 million dollars. They want to know how much they should invest monthly in an annuity paying 7.75% compounded monthly. a) Which formula is appropriate for this scenario

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