12-06-2021
Mathematics

contestada

You would like to have $8000 in an account after four years time if the account earns 4% compound interest yearly how much would you have to deposit today

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wolf1728 wolf1728

12-06-2021

Answer:

http://www.1728.org/compint2.htm

Principal = Total ÷ (1 + Rate) ^ years

Principal = $8,000 / (1.04) ^ 4

Principal = $8,000 / 1.16985856

Principal = 6,838.43

Step-by-step explanation:

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