<PRE><B>Question 1185784</B>
.
How much money should I invest to the nearest cent at 6%/a compounded monthly to have $20,000 in 4 years?
~~~~~~~~~~~~~~~~~~`


&lt;pre&gt;
    20000 = {{{X*(1+0.06/12)^(12*4)}}}


    20000 = {{{X*(1+0.005)^48}}}


    20000 = {{{X*1.005^48}}}


    X = {{{20000/1.005^48}}} = 15,741.97  dollars.    &lt;U&gt;ANSWER&lt;/U&gt;
&lt;/pre&gt;

Solved.


------------------


To see many other similar &amp;nbsp;(and different) &amp;nbsp;solved problems on compounded interest accounts, &amp;nbsp;look into the lesson

&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;- &lt;A HREF=https://www.algebra.com/algebra/homework/percentage/lessons/Compound-interest-percentage-problem.lesson&gt;Compounded interest percentage problems&lt;/A&gt; 

in this site.



Learn the subject from there.



</PRE>