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TVM
Present Value (PV):
Future Value (FV):
Interest Rate (I%, annual):
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Compounding per Year (C/Y):
Payment (PMT):
Calculate
Sophia wants to save for a car purchase. The account pays \(6.1 \pourcent\) p.a. compounded monthly. If Sophia wants to have \(\dollar 40\,000\) in the account in 7 years, how much does she need to deposit now?
7
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9
4
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6
1
2
3
C
0
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dollars (round to the nearest integer)
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