document.write( "Question 1195416: How much would you need to deposit in an account now in order to have $5000 in the account in 5 years? Assume the account earns 3% simple interest. Round your answer to the nearest cent. \n" ); document.write( "

Algebra.Com's Answer #827888 by josgarithmetic(39614) $\"\"$ $\"About$

You can put this solution on YOUR website!
$\"D%2BD%2A5%2A0.03=5000\"$ \r
\n" ); document.write( "\n" ); document.write( " $\"D%281%2B5%2A0.03%29=5000\"$ \r
\n" ); document.write( "\n" ); document.write( " $\"D=5000%2F1.15\"$ \r
\n" ); document.write( "\n" ); document.write( " $\"highlight%28D=4348%29\"$ \r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "--
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\n" ); document.write( "\n" ); document.write( "Does that work?
\n" ); document.write( "4348+0.03*4348=4478.44
\n" ); document.write( "4478.44+0.03*4348=4608.88
\n" ); document.write( "4608.88+0.03*4348=4739.32
\n" ); document.write( "4739.32+0.03*4348=4869.76
\n" ); document.write( "4869.76+0.03*4348=5000.2, close enough \n" ); document.write( "

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