Thornton Edwards
09/02/2024 · Middle School
To help with her retirement savings, Rita has decided to invest. Assuming an interest rate of \( 3.46 \% \) compounded daily, how much would she have to invest to have \( \$ 117,300 \) after 17 years? Do not round any intermediate computations, and round your final answer to the nearest dollar. If necessary, refer to the list of financial formulas. Assume there are 365 days in each year.
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Rita needs to invest approximately \( \$67,041 \) today to have \( \$117,300 \) after 17 years at an interest rate of \( 3.46\% \) compounded daily.
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