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If a bank pays 13% compounded monthly, how much should be deposited now to have $1500...

If a bank pays 13% compounded monthly, how much should be deposited now to have $1500 :
a) 5 years later
Answer = $
b) 8 years later
Answer = $

Math   Statistics-And-Probability   
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Homework Answers

Answer #1

a)

answer = $785.97

b)

answer = $533.32

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