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Use the present value formula to determine the amount to be invested now, or the present value needed. The desired accumulated amount is $70,000
Use the present value formula to determine the amount to be invested now, or the present value needed. The desired accumulated amount is $70,000 after 10 years invested in an account with 6.9% interest compounded monthly. The amount to be invested now, or the present value needed, is $ (Round to the nearest cent as needed.)
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College Accounting
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
11th edition
978-1111528300, 1111528128, 1111528306, 978-1111528126
