Question 170112
x(1+.12/12)^5*12=25,000
x(1.01)^60=25,000
x*1.8167=25,000
x=25,000/1.8167
x=13,761 needs to be invested for 5 years.
Proof:
13,761(1+.12/12)^5*12=25,000
13,761(1.01)^60=25,000
13,761*1.8167=25,000
25,000~25,000