How much must you deposit in an account that pays 8% interest, compounded monthly, to have balance of $1000 after three years? Please Help!!!

asked Sep 18, 2021 70.5k views

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by Espen

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3 votes

Answer:

$240

Step-by-step explanation: 8 % over 100 then x over 1000 8×1000=8000÷100=80×3=240

Clarkey answered Sep 23, 2021

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