Suppose you want to save up $2,173 in 5 years to treat yourself to a...

60.1K

Verified Solution

Question

Accounting

image
Suppose you want to save up $2,173 in 5 years to treat yourself to a vacation after 5 years of hard work to graduate from college. If your bank offers you 12% APR, how much will you have to deposit today to have the money in 5 years? (Round your answer to two decimal points)

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