Skylar is going to invest in an account paying an interest rate of 6.4% compounded monthly. How much would Skylar need to invest, to the nearest ten dollars, for the value of the account to reach $300 in 17 years?

Question

04-02-2021
Mathematics

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Skylar is going to invest in an account paying an interest rate of 6.4% compounded monthly. How much would Skylar need to invest, to the nearest ten dollars, for the value of the account to reach $300 in 17 years?

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