document.write( "Question 1035882: please help me I never and still isn't good on doing these problems. Thanks in advance. \r
\n" ); document.write( "\n" ); document.write( "How much you must deposit in an account that pays 6.25% interest, compounded annually to have a balance of $700.00 after 2 years.\r
\n" ); document.write( "\n" ); document.write( " \n" ); document.write( "

Algebra.Com's Answer #650492 by MathTherapy(10552) $\"\"$ $\"About$

You can put this solution on YOUR website!

\n" ); document.write( "please help me I never and still isn't good on doing these problems. Thanks in advance. \r
\n" ); document.write( "\n" ); document.write( "How much you must deposit in an account that pays 6.25% interest, compounded annually to have a balance of $700.00 after 2 years.
\n" ); document.write( "

Use the formula for the PRESENT VALUE of $1: . where:
\n" );
document.write( "P = Present Value (unknown in this case)
\n" );
document.write( "A = Future Value ($700, in this case)
\n" );
document.write( "i = Interest rate (6.25%, or .0625, in this case)
\n" );
document.write( "m = Compounding periods, per year (anuually, or 1, in this case)
\n" );
document.write( "t = Time, in years (2, in this case)\r
\n" );
document.write( "\n" );
document.write( "Therefore,  becomes:  ======>  =======> 
\n" );
document.write( "P, or Present Value/Deposit to be made now =  \n" );
document.write( "

\n" );