How much money should be invested now (rounded to the nearest cent), called the initial investment in a Government Bond investment that yields 7% per year, compounded monthly for
10 years, if you wish it to be worth $25,000 after 10 years?
Hint: A(t) = A (1+ 13) 12t, where A(t) is the final amount, Ao is the initial investment, r is the
growth rate expressed as a decimal amount, and t is time in years.
O $12,708.73
O $2,675.00
O $12,439.91
O $50,241.53
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