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Compound Interest In Exercises 15 and 16, determine the principal that must be invested at rate...

Compound Interest In Exercises 15 and 16, determine the principal that must be invested at rate compounded monthly, so that $500,000 will be available for retirement in years.

15. r = 7 1/2%, t = 20

16. r = 12%, t=40

Math   Precalculus   
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