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3 years ago

10

Kenneth needs $5,000 for university in 5 years. His parents plan to invest some money in an account paying interest at a rate of

7.2% per annum, compounded monthly. How much should they invest now to have $5,000 in 5 years.

1 answer:

pochemuha3 years ago

7 0

A lot of money because then they get even more back

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