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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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1 vote
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?

User Praful Argiddi
by
7.5k points

2 Answers

4 votes

Answer:

744.09

Explanation:

I know it's correct

User Utdrmac
by
8.2k points
1 vote

=1000/(1+(0.06/2))^(2*5) = $744.09
User Dylanized
by
7.7k points
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