Chambers Hodgson
06/20/2023 · Junior High School
How much do you need to invest in an account earning an annual interest rate of \( 4.029 \% \) compounded monthly, so that your money will grow to \( \$ 7,908.00 \) in 40 months? Srincipal: Note: Your answers should include a dollar sign and be accurate to two decimal places)
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You need to invest approximately \$6,915.74.
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