SOLUTION: How much should be invested at 6% compounded monthly in order to have $8500 at the end of ten years?

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Question 357257: How much should be invested at 6% compounded monthly in order to have $8500 at the end of ten years?
Answer by robertb(5830) About Me  (Show Source):
You can put this solution on YOUR website!
B+=+P%281%2Br%2Fn%29%5E%28nt%29
8500+=+P%281%2B0.06%2F12%29%5E120,
8500+=+P%281.005%29%5E120,
8500%2F%281.005%29%5E120=P,
P = 4671.88