Find the Principal That Must Be Invested at the Rate

question 43

Multiple Choice

Find the principal that must be invested at the rate 8%,compounded monthly,so that $3,000,000 will be available for retirement in 50 years.Round your answer to the nearest cent. ​

• A)$750,000.00
• B)$55,681.16
• C)$2,151,973.12
• D)$1,000,000.00
• E)$63,963.69

---

Definitions:

Anorexia Nervosa

A disorder related to eating that involves significantly low body weight, a strong fear of weight gain, and an inaccurate view of one's body size or form.

Relapse

The return of symptoms of a disease after a period of improvement.

Maudsley Approach

A family-based treatment for anorexia nervosa that involves parents or caregivers in the recovery process, emphasizing family therapy.

Weight Gain

An increase in body weight over a period of time, which can be due to muscle gain, fat gain, or both.