You want to have $10,000 in your account after five years. Find the amount your initial deposit should be if the account pays 3.5% annual interest compounded monthly.

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asked Mar 9, 2022 4.1k views

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You want to have $10,000 in your account after five years. Find the amount your initial deposit should be if the account pays 3.5% annual interest compounded monthly.

Mathematics
high-school

Israel Perales asked

by Israel Perales

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1 Answer

3 votes

Answer: 8396.71

Explanation:

Ian Fiske answered Mar 14, 2022

by Ian Fiske

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