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koban [17]
2 years ago
6

Landon is going to invest in an account paying an interest rate of 6.6% compounded daily. How much would Landon need to invest,

to the nearest dollar, for the value of the account to reach $3,250 in 18 years?
Mathematics
2 answers:
mr_godi [17]2 years ago
8 0

Answer:

$990.95

Step-by-step explanation:

The computation of the present value or the invested amount is given below:

Given that

NPER = 18 × 365 days

RATE = 6.6% ÷ 365

FV = $3,250

PMT = $0

The formula is shown below:

= -PV(RATE;NPER;PMT;FV;TYPE)

AFter applying the above formula, the present value is $990.95

hammer [34]2 years ago
5 0

Answer:

the answer is 991 when rounded to the nearest dollar

Step-by-step explanation:

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The complete question in the attached figure

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3 years ago
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salantis [7]
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3 years ago
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