SOLUTION: If I would like $75,000 in 15 years how much do I need to set aside in an account today,if the account pays an interset of 4.9% compounded semiannually?
I am confused on how to us
Algebra.Com
Question 195998: If I would like $75,000 in 15 years how much do I need to set aside in an account today,if the account pays an interset of 4.9% compounded semiannually?
I am confused on how to use the correct formula when I do not know what my current value is now?
Answer by jojo14344(1513) (Show Source): You can put this solution on YOUR website!
Working Eqn --->
where,
Isolate P:
, Answer
Thank you,
Jojo
RELATED QUESTIONS
If I would like $75,000 in 15 years how much do I need to set aside in an account... (answered by josmiceli)
Please Help: How much do you need to set aside in an account that pays 4.9% interest... (answered by scott8148)
if you want to have $18,000 for a down payment on a house that you would like to buy in 7 (answered by rfer)
Please help solving bi,ii
Carter expects to live for 30 years more after his retirement. (answered by Theo)
Carter expects to live for 30 years more after his retirement. He would like to withdraw... (answered by asinus)
Can someone please help me with the following two questions?
1. Mary just deposited... (answered by stanbon)
If i deposit money today in an account that pays 6.5% annual interest, how long will it... (answered by lwsshak3)
Carter expects to live for 30 years more after his retirement. He would like to withdraw... (answered by Theo)
Tom and Louise wants to establish an account that will supplement their retirement income (answered by lwsshak3,ikleyn)