How much cash would you need to invest today if you knew you had to pay $1,000 each month for the next 5 years. Assume the annual interest rate is 12%. Round your answer to the nearest dollar.

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asked Jul 7, 2023 203k views

20 votes

How much cash would you need to invest today if you knew you had to pay $1,000 each month for the next 5 years. Assume the annual interest rate is 12%. Round your answer to the nearest dollar.

Mathematics
college

Bmscomp asked

by Bmscomp

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1 Answer

4 votes

Answer:

5600 $

Explanation:

1000 multiply by 5 = 5000 multiply by 12 percent

600 add by 5000

5600

Neron Joseph answered Jul 14, 2023

by Neron Joseph

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