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What lump sum must be invested at 11%, compounded monthly, for the investment to grow to $56,000 in 10 years? The lump sum $ invested

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What lump sum must be invested at 11%, compounded monthly, for the investment to grow to $56,000 in 10 years? The lump sum $ invested at 11%, compounded monthly, grows to $56,000 in 10 years. (Do not round until the final answer. Then round to the nearest cent as needed.)

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