SOLUTION: If you need $50,000 eight years from now, what is the minimum amount of money you need to deposit into a bank account that pays 6% annual interest, compounded (give your answers t
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Question 1206586: If you need $50,000 eight years from now, what is the minimum amount of money you need to deposit into a bank account that pays 6% annual interest, compounded (give your answers to the nearest cent):
(a) annually? $
(b) monthly? $
(c) daily (assuming 365 days in a year)? Answer by math_tutor2020(3816) (Show Source):
(