SOLUTION: How much must be deposited today into the following account in order to have 35000
in 6 years for a down payment on a​ house? Assume no additional deposits are made.
An
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in 6 years for a down payment on a​ house? Assume no additional deposits are made.
An
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Question 1084872: How much must be deposited today into the following account in order to have 35000
in 6 years for a down payment on a house? Assume no additional deposits are made.
An account with monthly compounding and an APR of 8
% Answer by math_helper(2461) (Show Source):
You can put this solution on YOUR website!
where:
F=future value
P=present value
r=rate (as a decimal)
n=number of compounding periods per year
t=number of years
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