document.write( "Question 1176317: How much money should be deposited today in an account that earns 6.5% compounded monthly so that it will accumulate to $13,000 in three years?\r
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Algebra.Com's Answer #802926 by ewatrrr(24785) $\"\"$ $\"About$

You can put this solution on YOUR website!

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document.write( "Hi\r\n" );
document.write( " In General \r\n" );
document.write( "A = Accumulated Amount 13000\r\n" );
document.write( "P= principal = \r\n" );
document.write( "r= annual rate = .065\r\n" );
document.write( "n= periods per year = 12\r\n" );
document.write( "t= years = 3\r\n" );
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document.write( "     P = $10,702.48  (rounded to nearest cent)\r\n" );
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document.write( "Important You are comfortable using Your calculator\r\n" );
document.write( "Wish You the Best in your Studies.\r\n" );
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