Answer
You would have had to invest $50,608.60
Work Step by Step
APR = 4% compounded monthly
A = P(1+$\frac{r}{n})^{nt}$
250,000 = P(1+$\frac{4}{1200})^{40x12}$
P = 50,608.60
Calculus Concepts: An Informal Approach to the Mathematics of Change 5th Edition
by LaTorre, Donald R.; Kenelly, John W.; Reed, Iris B.; Carpenter, Laurel R.; Harris, Cynthia R.
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: 11
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