Calculus Concepts: An Informal Approach to the Mathematics of Change 5th Edition

Published by Brooks Cole
ISBN 10: 1-43904-957-2
ISBN 13: 978-1-43904-957-0

Chapter 1 - Ingredients of Change: Functions and Limits - 1.6 Activities - Page 64: 12


They would have to invest $40,733.

Work Step by Step

APR = 5% compounded monthly A = P(1+$\frac{r}{n})^{nt}$ 100,000 = P(1+$\frac{.05}{12})^{12x18}$ P = 40,733
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