To help with her child's college fund, Lashonda needs to invest. Assuming an interest rate of 2.27% compounded monthly, how much would she have to invest to have $89,600 after 14 years? nearest dollar
To help with her child's college fund, Lashonda needs to invest. Assuming an interest rate of 2.27% compounded monthly, how much would she have to invest to have $89,600 after 14 years? nearest dollar
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
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:To help with her child's college fund, Lashonda needs to invest. Assuming an interest rate of 2.27% compounded monthly, how much would she have to invest
to have $89,600 after 14 years?
Do not round any intermediate computations, and round your final answer to the nearest dollar.
$
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