How much do you have to invest to bring the balance

Reference no: EM13287107

You plan to invest an amount of money in a five year certificate of deposit at your bank. the stated interest rate applied to the CD is 12% compounded monthly. How much do you have to invest to bring the balance in the CD account to $8,500 in five years? Need the exact amount in dollars and cents.

Reference no: EM13287107

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