Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. basic math
  3. suppose you are depositing an amount today in an a

Suppose you are depositing an amount today in an account that earns 5% interest, compounded...

80.2K

Verified Solution

Question

Basic Math

image

Suppose you are depositing an amount today in an account that earns 5% interest, compounded quarterly. If your goal is to have $5000 in the account at the end of six years, how much must you deposit in the account today? Round to the nearest dollar.$3711$1289$703$985

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

Caspian Sea Drinks is considering the purchase of a new water filtration system produced by Rube...

Medical Sciences
1.2K views

Can males develop pelvic inflammatory disease when infected by an STD? Why or why not?

Biology
1.2K views

how to find genotype from an electro gram with base pairs

Physics
1.2K views

To improve the stability of vehicles many roads have banked curves. Discuss the direction of acceleration...

Physics
1.2K views

Electric Charges and Fields 1 With a charge g at the centre an imaginary Gaussian...

Geometry
1.2K views

Follow the instructions below and write an essay that covers the following tasks R script...

Calculus
1.2K views

Solve the equation and write the solution set. Use / to write fractions, as in...

Accounting
1.2K views

Question Help E10-35A (similar to) Data from the financial statements of Luxury Candle Company included...

Accounting
1.2K views

The Riverton Company, a ski resort, recently announced a $404,352 expansion to lodging properties, lifts,...

Finance
1.2K views

Could someone please help me with this problem. Thank you! Jake...

Accounting
1.2K views

Assume that your friend has accepted a position working as an accountant for a large...

Accounting
1.2K views

Flint Corporation leases equipment from Falls Company on January 1, 2025. The lease agreement does...