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Michael is going to invest in an account paying an interest rate of 5.8% compounded monthly. How much would Michael need to invest, to the nearest dollar, for the value of the a…

Michael is going to invest in an account paying an interest rate of 5.8% compounded monthly. How much would Michael need to invest, to the nearest dollar, for the value of the a…
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Michael is going to invest in an account paying an interest rate of 5.8% compounded

monthly. How much would Michael need to invest, to the nearest dollar, for the value
of the account to reach $260 in 12 years?

User Shoham Yetzhak
by
8.4k points

1 Answer

3 votes

Answer:

P=130

Explanation:

User Rohit Garg
by
8.8k points
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