document.write( "Question 939514: how much must be deposited today into the following account in order to have $60,000 in 8 years for a down payment on a house? Assume no additional deposits are made. An account with annual compounding and an APR of 6% \n" ); document.write( "

Algebra.Com's Answer #572572 by ankor@dixie-net.com(22740) $\"\"$ $\"About$

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how much must be deposited today into the following account in order to have $60,000 in 8 years for a down payment on a house? Assume no additional deposits are made. An account with annual compounding and an APR of 6%
\n" ); document.write( ":
\n" ); document.write( "let x = amt required
\n" ); document.write( "x(1.06^8) = 60000
\n" ); document.write( "x(1.593848) = 60000
\n" ); document.write( "x = $\"60000%2F1.593848\"$
\n" ); document.write( "x = $37,644.74 \n" ); document.write( "

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