How much should be invested now at 3.85% interest compounded monthly to have $28,000 in 16 years? Feel free to use the Online Basic Financial Calculator e

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 62SE: Rachael deposits $1500 into a retirement fund each year. The fund earns 8.2% annual interest,...
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How much should be invested now at 3.85% interest
compounded monthly to have $28,000 in 16 years?
Feel free to use the Online Basic Financial
Calculator
es
Transcribed Image Text:How much should be invested now at 3.85% interest compounded monthly to have $28,000 in 16 years? Feel free to use the Online Basic Financial Calculator es
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