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Kayla is going to invest in an account paying an interest rate of 2.9% compounded monthly. How much would Kayla need to invest, to the nearest cent, for the value of the account to reach $42,000 in 6 years?
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1 vote
Kayla is going to invest in an account paying an interest rate of 2.9% compounded

monthly. How much would Kayla need to invest, to the nearest cent, for the value of
the account to reach $42,000 in 6 years?

User Arabela Paslaru
by
5.5k points

2 Answers

3 votes

Answer:

the answer is 48m^2!

Explanation:

User Mppl
by
5.8k points
4 votes

Answer:

The answer is 35299.88. Hope this helps

User Eggon
by
6.2k points
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