Question 6 multiple choice worth 7 points)
(04.02)
how much money should be invested now (rounded to the nearest cent), called the initial investment, in a treasury bond investment that yields 9% per year, compounded
monthly for 10 years, if you wish it to be worth $50,000 after 10 years?
hint a(t) = a (1+
124, where alt) is the final amount, ag is the initial investment, r is the growth rate expressed as a decimal amount, and t is time in years.
$21.120.54
$5,450.00
$122.567.85
$20,396.87