#### Answer

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

Published by
Brooks Cole

ISBN 10:
1-43904-957-2

ISBN 13:
978-1-43904-957-0

They would have to invest $40,733.

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