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You plan to put money into a bank account that earns a 9.0% APR with monthly compounding. You plan to invest $800 at the end
You plan to put money into a bank account that earns a 9.0% APR with monthly compounding. You plan to invest $800 at the end of each halfyear, as well as a tobedetermined initial amount today. Under this plan, how much must you invest today to have a total account balance of $38,000 in 7 years?
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