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You need $87,000 in 12 years. required: if you can earn .54 percent per month, how much will you have to deposit today?

You need $87,000 in 12 years. required: if you can earn .54 percent per month, how much will you have to deposit today?
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5 votes
You need $87,000 in 12 years. required: if you can earn .54 percent per month, how much will you have to deposit today?

User Michael Bates
by
8.9k points

1 Answer

4 votes
$67651.20

Solution

87000x0.0054x12x12
=469.8x12x12
=5637.6x12
=67651.2
User Bpossolo
by
8.0k points
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