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16 October, 16:39

If he have 275000 available in 6 years how much does he need to invest now in a cd paying 5.65% interest compounded monthly

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  1. 16 October, 16:56
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    P=A: (1+r/k) ^kt

    p=275,000: (1+0.0565:12) ^ (12*6)

    p=196,088.61
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