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if i wanted to make a 40,000 payment in one year with a 5% annual interest rate, how much should i invest now?

User Losses Don
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1 Answer

4 votes

Answer:

38,095.24

Explanation:

40,000 = P(1 + 0.05)^1

P = 40,000/1.05

P = 38095.2380952

User Sif
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