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Mathematics

Answered

PRE-CALC no links.
How much should be deposited in an account paying 3% interest, compounded monthly, in order to have a balance of $9,000 after 17 years and 3 months?

Answer :

Clarch19go Clarch19go

Answer:

$5367.54

Step-by-step explanation:

9000 = P(1 + .03/12)^207*

9000 = P×1.676744643

P = 5367.54

*207 = 12 x 17.25

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