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If he have 275000 available in 6 years how much does he need to invest now in a cd paying 5.65% interest compounded monthly
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If he have 275000 available in 6 years how much does he need to invest now in a cd paying 5.65% interest compounded monthly

User Bruce Merry
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1 Answer

3 votes
P=A÷(1+r/k)^kt
p=275,000÷(1+0.0565÷12)^(12×6)
p=196,088.61
User Rollo Tomazzi
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