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01-12-2016
Mathematics

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A company will need $50,000 in 6 years for a new addition. To meet this goal, the company deposits in an account today that pays 5% interest conpounded annually. Find the amount to the nearest hundred dollars that should be invested to total $50,000 in 6 years?

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Abbyvogl Abbyvogl

01-12-2016

P(1+.05/4)^(5*6) = 50000 solve for p

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