How much would you need to deposit in an account now in sắp xếp to have 4000 in the account in 5 years? Assume the account earns 4% interest compounded monthly.

Lời Giải

How much would you need to deposit in an account now in order to have 4000 in the account in 5 years? Assume the account earns 4% interest compounded monthly.

Lời Giải

Principal : 3276.01

Các bước giải pháp

Translate the problem into an equation:

4000 = P (1 + \frac{0.04}{12})^{12 \cdot 5}

Giải

P, 4000 = P (1 + \frac{0.04}{12})^{12 \cdot 5} : P = 3276.01

Principal : 3276.01

Ví dụ phổ biến

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