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MA_775_DIABLO [31]
4 years ago
7

How much you need to deposit today to have $1000 in 5 years at 3%.

Mathematics
1 answer:
igomit [66]4 years ago
7 0

use equation A(t) = a(1+r)^t to solve. you want to find the starting so solve for A

1000 = a(1+.03)^5

1000 = 1.1592740743a

a = $862.61

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See attachment

EXPLANATION

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