SOLUTION: How much money would need to be deposited into an account earning 5.25% interest compounded annually in order for the accumulated value at the end of 25 years to be $75,000?

Question 814240: How much money would need to be deposited into an account earning 5.25% interest compounded annually in order for the accumulated value at the end of 25 years to be $75,000?
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!

 

Hi,

 

In General 

A = Accumulated Amount $75,000

P= principal = 

r= annual rate = .0525

n= periods per year = 1 (annually)

t= years = 25

 

0r   

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