Ask Question
13 January, 13:11

Tanisha wants to have $1000 in her bank account in 5 years. How much money should she deposit if her account earns 6% interest which is compounded 2 times per year?

+1
Answers (1)
  1. 13 January, 16:28
    0
    Here is how you set it up:

    1000 / (1 + (0.06/2)) ^ (2*5) = $744.09

    Your answer is: $744.09

    Have an amazing day and stay hopeful!
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Tanisha wants to have $1000 in her bank account in 5 years. How much money should she deposit if her account earns 6% interest which is ...” 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