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Compound Interest - Present Value. Axel needs to have $55,000.00 in 3 years. If his investment pays 4.45% compounded monthly, how much should he invest

Compound Interest - Present Value. Axel needs to have $55,000.00 in 3 years. If his investment pays 4.45% compounded monthly, how much should he invest today (round to nearest the cent)? a. $48,129.26 b. $7,342.50 C. $48,265.56 d. $48,138.40

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