Ask Question
19 December, 11:13

Mr. Smith wishes to retire in 13 years. When he retires he would like to have $300,000 in his bank account. Mr. Smith's bank pays 8% per year compounded annually. How much should he deposit now to attain his goal?

+3
Answers (1)
  1. 19 December, 14:34
    0
    I believe he would need to deposit about $67,500
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Mr. Smith wishes to retire in 13 years. When he retires he would like to have $300,000 in his bank account. Mr. Smith's bank pays 8% per ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers