If you want to have 60,000 and 8 years how much do you need to deposit in the bank today if the account pays an interest rate of 9% ?

asked Jan 7, 2023 110k views

24 votes

by Grill

4.6k points

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11 votes

Answer: $30111.98

Explanation:

60,000=x(1+0.09)^8

60,000=1.99256264169x

x=$30111.98

Erma answered Jan 10, 2023

by Erma

4.4k points

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