SOLUTION: How much money should I invest to the nearest cent at 6%/a compounded monthly to have $20,000 in 4 years?

Question 1185784: How much money should I invest to the nearest cent at 6%/a compounded monthly to have $20,000 in 4 years?

Answer by ikleyn(52776) (Show Source): You can put this solution on YOUR website!
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How much money should I invest to the nearest cent at 6%/a compounded monthly to have $20,000 in 4 years?
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    20000 = 


    20000 = 


    20000 = 


    X =  = 15,741.97  dollars.    ANSWER

Solved.

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To see many other similar (and different) solved problems on compounded interest accounts, look into the lesson
- Compounded interest percentage problems
in this site.

Learn the subject from there.

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