<PRE><B>Question 689369</B>
invest in order to have $30,000 in 12 years at a rate of 5 percent. 
:
The formula we want: P*(1+.05)^12 = 30000
p*1.05^12 = 30000
find 1.05^12 on a calc
p * 1.795856 = 30000
p = {{{30000/1.795856}}}
p = $16,705.12 
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