b. Pearl is investing in a 5-year certificate of deposit that earns 3.6% APR compounded monthly. If she would like to have $6000 in the account at the end of 6 years, how much money should she initially deposit in the account? PV = PMT= FV = APR = Periods = Compounding:

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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b. Pearl is investing in a 5-year certificate of deposit that earns 3.6% APR compounded
monthly. If she would like to have $6000 in the account at the end of 6 years, how much
money should she initially deposit in the account?
PV =
PMT =
FV =
APR =
Periods: =
Compounding:
Transcribed Image Text:b. Pearl is investing in a 5-year certificate of deposit that earns 3.6% APR compounded monthly. If she would like to have $6000 in the account at the end of 6 years, how much money should she initially deposit in the account? PV = PMT = FV = APR = Periods: = Compounding:
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