SOLUTION: If a bank pays 10% compounded monthly, how much should be deposited now to have $1300 :
a) 4 years later
Answer = $
b) 8 years later
Answer = $
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Question 729464: If a bank pays 10% compounded monthly, how much should be deposited now to have $1300 :
a) 4 years later
Answer = $
b) 8 years later
Answer = $
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
^{12t})
Where 
is the number of years of duration of the investment. Use your calculator.
John
Egw to Beta kai to Sigma
My calculator said it, I believe it, that settles it
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