Question

Find how much money needs to be deposited now into an account to obtain $7,300 (Future Value) in 6

Answer 1

Answer:

x=  $6,284.15

Step-by-step explanation:

7300 = x(1 + .025/12)^72

x = $\frac{7300}{(1 + \frac{.025}{12} )^{72} }$

x=  $6,284.15