kuiniaita kuiniaita

25-02-2021
Mathematics

contestada

How much would you need to deposit in an account now in order to have $2000 in the account
in 5 years? Assume the account earns 6% interest compounded monthly.

Respuesta :

justinbeiberfan justinbeiberfan

25-02-2021

Answer:

$1950.74

Step-by-step explanation:

step 1

x(1 + 0.06/12)^5=2000

step 2

x= 2000/(1 + 0.06/12)^5

= 1950.741337

Answer Link

batgirlsh batgirlsh

01-03-2021

Answer:

$946.21

Step-by-step explanation:

Answer Link

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