Sam wants to have $14,000 in 4 years. How much he should invest now at 6% compounded monthly in order to reach his goal. $13,612.84 b)O $13,458.64 c)O $10,541.36 d)O $11,019.37 e) O None of these

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Sam wants to have $14,000 in 4 years. How much he should invest now at 6% compounded monthly in order to reach
his goal.
a)O $13,612.84
b)O $13,458.64
c)O $10,541.36
d)O $11,019.37
e) O None of these
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4/22/2021
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Transcribed Image Text:Sam wants to have $14,000 in 4 years. How much he should invest now at 6% compounded monthly in order to reach his goal. a)O $13,612.84 b)O $13,458.64 c)O $10,541.36 d)O $11,019.37 e) O None of these Attempted mpted 11:11 AM 易 4/22/2021 P Type here to search Del End F10 PgDn F12 Ans Home PrtScn F8 F7 F5 F6 F2 F3 F4 Backspace 23 $ @ 7
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