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PLEASE HELP ASAP Rich needs $50,000 for a down payment on a home in 5 years. How much must he deposit into an account that pays 1.16% interest, compounded quarterly, in order to meet his goal?
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PLEASE HELP ASAP Rich needs $50,000 for a down payment on a home in 5 years. How much must he deposit into an account that pays 1.16% interest, compounded quarterly, in order to meet his goal?

User Arjun Kesava
by
5.0k points

2 Answers

1 vote

Answer:

37 ,123.52

Explanation:

User Randy L
by
4.5k points
3 votes

Answer:

37,123.52

Explanation:

I hope this helps! c:

User Jasonlong
by
4.3k points
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