Question
Skippy wants to have $18,000.00 in 7 years. His bank is offering an account that earns 2% compounded monthly. How much does he need to
Skippy wants to have $18,000.00 in 7 years. His bank is offering an account that earns 2% compounded monthly. How much does he need to deposit to reach his goal? Round your final answer up to the nearest cent. Assume no additional deposits or withdrawals are made after the initial deposit.
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Personal Finance Turning Money into Wealth
Authors: Arthur J. Keown
8th edition
134730364, 978-0134730363
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