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Anna wants to buy a car in two years and wants to have $10,000 for the purchase. How much will Anna need to deposit today in an account that earns 5% interest per year, compound…

Anna wants to buy a car in two years and wants to have $10,000 for the purchase. How much will Anna need to deposit today in an account that earns 5% interest per year, compound…
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Anna wants to buy a car in two years and wants to have $10,000 for the purchase. How much will Anna need to deposit today in an account that earns 5% interest per year, compounded monthly?

Anna will need to deposit $
.

User Swathi EP
by
8.0k points

1 Answer

0 votes

Answer:

$9,050.25

Explanation:

User Bharanitharan
by
7.8k points
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