Saving for a Tractor Jim Roznowski wants to invest some

Chapter 11, Problem 11.1.171

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Saving for a Tractor Jim Roznowski wants to invest some money now to buy a new tractor in the future. If he wants to have $275,000 available in 5 years, how much does he need to invest now in a CD paying 5.15% interest compounded monthly?

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