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Mathematics, 24.12.2020 15:00 0prayforthelost0

James knows that he eventually wants to buy a motorcycle, and the model he has in mind costs $5,000. He has found a bank that will let him open a saving account with 7% interest that is compounded monthly. If he wants to buy his motorcycle in 5 years (he's still nervous), how much money should he invest in the account now? Round only at the very last step of the problem. Give your answer rounded to the nearest dollar. Do not include $ in your answer choice.

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James knows that he eventually wants to buy a motorcycle, and the model he has in mind costs $5,000....

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