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miss Akunina [59]
3 years ago
10

How much money should be invested now (rounded to the nearest cent), called the initial investment, in a Treasury Bond investmen

t that yields 4.75% per year, compounded monthly for 10 years, if you wish it to be worth $20,000 after 10 years?
Advanced Placement (AP)
1 answer:
Gekata [30.6K]3 years ago
3 0
0.475/12=.00395833
12(10)=120


20,000(1.00395833..)^-120
$12,449.37
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