youngboy9 youngboy9

16-05-2017
Mathematics

contestada

Tanisha wants to have $1000 in her bank account in 5 years. How much money should she deposit if her account earns 6% interest which is compounded 2 times per year?

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bianca0205 bianca0205

16-05-2017

Here is how you set it up:

1000/(1+(0.06/2))^(2*5) = $744.09

Your answer is: $744.09

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