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Posted by on Monday, March 31, 2014 at 7:16pm.

Pinnacle Homes, a real estate development company, is planning to build five homes, each costing $125,000, in 2 1/2 years. The Galaxy Bank pays 6% interest compounded semiannually. How much should the company invest now to have sufficient funds to build the homes in the future?

  • math - , Monday, March 31, 2014 at 7:54pm

    amount(1.03)^5 = 5(125000)

    I got $ 539,130.49

  • math - , Monday, March 31, 2014 at 10:02pm

    post it.

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