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Find the Principal That Must Be Invested at the Rate

Question 43

Multiple Choice

Find the principal that must be invested at the rate 8%,compounded monthly,so that $3,000,000 will be available for retirement in 50 years.Round your answer to the nearest cent. ​


A) $750,000.00
B) $55,681.16
C) $2,151,973.12
D) $1,000,000.00
E) $63,963.69

Correct Answer:

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