Shaun wants to invest his money such that he accumulates $10 000 after 3½ years at a rate of 4% compounded monthly? How much money should he invest today?
A)$8717.33
B)$9615.38
C)$9884.20
D)$8695.61
E)$11 500.06

Question

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The Answer of Shaun wants to invest his money such that he accumulates $10 000 after 3½ years at a rate of 4% compounded monthly? How much money should he invest today?
A)$8717.33
B)$9615.38
C)$9884.20
D)$8695.61
E)$11 500.06

Shaun Wants to Invest His Money Such That He Accumulates