VE If Joel will need $5,000 to buy a car in two years, then how much will he need to deposit now (rounded to the nearest dollar) if his savings account pays an annual 10% simple…

Question

asked Dec 9, 2022 104k views

1 Answer

Vasile Doe · Answer 1 · 2022-12-14T15:56:34+0000

Answer:

$4167

Explanation:

Original Amount: $4167 (rounded)

First Year: $4167 + $416.7 = $4583.7

Second Year $4583.7 + $416.7 = 5000.4