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28 October, 19:30

How much must you invest at one time in order to accumulate $18,000 in 12 years at 5% annual interest? A = P (1 + r) n

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  1. 28 October, 23:26
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    Amount = Principal (1 + rate) Number of years

    $18000 = P (1 + 0.05) 12

    12P (1.05) = $18000

    1.05P = $1500

    Principal (P) = $1428.5714
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