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QUESTION
Determine the principal P that must be invested at rate r = 7%, compounded monthly, so that $500,000 will be available for retirement in t = 17...
Determine the principal P that must be invested at rate r = 7%, compounded monthly, so that $500,000 will be available for retirement in t = 17 years. (Round your answer to the nearest cent.)
P = $ (answer)
