• anonymous
How much money should be invested now (rounded to the nearest cent), called the initial investment, in a Treasury Bond investment that yields 5.75% per year, compounded monthly for 7 years, if you wish it to be worth $12,000 after 7 years? Hint: A(t) = A0(1 + start fraction r over n end fraction)nt, where A(t) is the final amount, A0 is the initial investment, r is the growth rate expressed as a decimal, n is the number of compounding periods per year, and t is time in years. $8,113.69 $8,505.65 $13,458.78 $8,031.47
  • Stacey Warren - Expert
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  • jamiebookeater
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