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Aaron needs $17,450 to purchase a motorcycle. How much money will he need to invest today in a savings account earning 3.8% interest compounded monthly to have enough money to purchase the boat in six years? (show work)

A = $1190.11

B = $13,897.37

C = $17,056.70

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Answers (1)
  1. 9 June, 16:39
    0
    P=17,450: (1+0.038:12) ^ (12*6)

    p=13,897.37
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