SOLUTION: Brad wants to have $17000 available to buy a car in 5 years. How much should he deposit now at 9% compounded monthly to reach that goal?

SOLUTION: Brad wants to have $17000 available to buy a car in 5 years. How much should he deposit now at 9% compounded monthly to reach that goal?

Algebra.Com

Question 605285: Brad wants to have $17000 available to buy a car in 5 years. How much should he deposit now at 9% compounded monthly to reach that goal?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
P=17000/(1+0.09/12)^(12*5)
you do the math
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