How much money has to be invested today to reach the desired amount under the following conditions:

A=$1000 R=4% T=6YRS N=12

Formula Interest = PNR/100 = $1,000

Here P = ? (to be found) N= 12, R =4%, T = 6 years

Answer will be given down

A=P(1+r/n)^(n*t)

1000=P(1+0.04/12)^(12*6)

1000=P(12.04/12)^72

1000=P*1.27

P=1000/1.27

P=$787.40

Answer : P= $787.40

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