SOLUTION: How much would you need to deposit in an account now in order to have $20000 in the account in 4 years? Assume the account earns 5% interest. I am having trouble setting up the p

Algebra ->  Finance -> SOLUTION: How much would you need to deposit in an account now in order to have $20000 in the account in 4 years? Assume the account earns 5% interest. I am having trouble setting up the p      Log On


   



Question 842006: How much would you need to deposit in an account now in order to have $20000 in the account in 4 years? Assume the account earns 5% interest. I am having trouble setting up the problem to solve it.
Answer by Fombitz(32388) About Me  (Show Source):
You can put this solution on YOUR website!
F=C%281%2Bi%29%5Et
20000=C%281%2B0.05%29%5E4
Take it from there and solve for C.