document.write( "Question 1175026: How much money should be deposited today in an account that earns 6% compounded monthly so that it will accumulate to $10,000 in three years?\r
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Algebra.Com's Answer #800616 by ewatrrr(24785) $\"\"$ $\"About$

You can put this solution on YOUR website!

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document.write( "Hi\r\n" );
document.write( "Previously solved\r\n" );
document.write( "In General  0r \r\n" );
document.write( "A = Accumulated Amount\r\n" );
document.write( "P= principal = \r\n" );
document.write( "r= annual rate = .06\r\n" );
document.write( "n= periods per year = 12\r\n" );
document.write( "t= years =3\r\n" );
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document.write( "  = $8356.45\r\n" );
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document.write( "Wish You the Best in your Studies.\r\n" );
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