document.write( "Question 1080926: how much must you deposit in an account that pays 8% interest, compounded monthly, to have a balance of $1000 after three years \n" ); document.write( "

Algebra.Com's Answer #695009 by Fombitz(32388) $\"\"$ $\"About$

You can put this solution on YOUR website!
$\"F=P%281%2Bi%29%5En\"$
\n" ); document.write( " $\"1000=P%281%2B0.08%2F12%2F100%29%5E36\"$
\n" ); document.write( " $\"1000=P%281.006944%29%5E36\"$
\n" ); document.write( " $\"1000=P%281.28291642%29\"$
\n" ); document.write( " $\"P=1000%2F1.28291642%29\"$
\n" ); document.write( "Work that out for the answer. \n" ); document.write( "

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