SOLUTION: You can earn 8 percent interest, compounded annually. How much must you deposit today to withdraw $10,000 in 6 years?

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Question 947576: You can earn 8 percent interest, compounded annually. How much must you deposit today to withdraw $10,000 in 6 years?
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
10000=P(1.08)^6
10000/1.586874323=p
6300=P