document.write( "Question 1152737: You want to buy a new camera for Christmas by saving $1,999 in only eight months. You purchase a certificate of deposit(CD) from your local bank that has a simply interest rate of 6.09%. How much must you put into the CD in order to have your desire camera? Round answer UP to the nearest penny.
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Algebra.Com's Answer #774820 by MathTherapy(10552)\"\" \"About 
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You want to buy a new camera for Christmas by saving $1,999 in only eight months. You purchase a certificate of deposit(CD) from your local bank that has a simply interest rate of 6.09%. How much must you put into the CD in order to have your desire camera? Round answer UP to the nearest penny.
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Formula for future value of a single amount, based on SIMPLE INTEREST: \"matrix%281%2C3%2C+A%2C+%22=%22%2C+P%281+%2B+TR%29%29\", 
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document.write( "where: \"matrix%281%2C4%2C+A%2C+%22=%22%2C+Future%2C+value%29\" ($1,999, in this case)
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document.write( "        P = Present Value or amount To be Invested/Deposited (Unknown, in this case)
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document.write( "        T = Time, in years (\"matrix%281%2C7%2C+highlight%288%2F12%29%2C+or%2C+2%2F3%2C+%22%2C%22%2C+in%2C+this%2C+case%29\")
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document.write( "        R = Annual interest rate ($6.09%, or .069, in this case)
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document.write( "\"matrix%281%2C3%2C+A%2C+%22=%22%2C+P%281+%2B+TR%29%29\" then becomes: \"matrix%281%2C3%2C+%221%2C999%22%2C+%22=%22%2C+P%281+%2B+%288%2F12%29+%2A+.0609%29%29\"
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document.write( "P, or Present Value or amount To be Invested/Deposited =  \n" );
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