edmund7942p edmund7942p

26-09-2022
Mathematics

Answered

A company is investing money into an account that earns 11.57% annual simple interest, and they want to have
$407789.58 in the account after 13 years and 3 months. How much will they need to invest initially in order to reach
their goal, assuming they don't put in any extra money after the initial investment?

Answer :

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