You need $77,000 in 12 years. If you can earn .44 percent per month, how much...
You need $77,000 in 12 years.
If you can earn .44 percent per month, how much will you have to
deposit today? (Do not round intermediate calculations and
round your answer to 2 decimal places, e.g., 32.16.)
Deposit today
$
Homework Answers
Amount to be deposited today=Future Value/91+monthly interest
rate)^number of
months=77000/(1+0.44%)^(12*12)=40919.03125
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