Please help!

How much money should be deposited today in an account that earns 9.5% compounded monthly so that it will accumulate to $10,000 in three years? (Do not round until the final answer. Then round to the nearest cent.)

Question

Please help!

How much money should be deposited today in an account that earns 9.5% compounded monthly so that it will accumulate to $10,000 in three years? (Do not round until the final answer. Then round to the nearest cent.)

anonymous · Answer

do you know formula for compound %?

anonymous · Answer

no I don't :/

anonymous · Answer

http://en.wikipedia.org/wiki/Compound_interest#Compound then it's here

anonymous · Answer

ok thank you!

anonymous · Answer

http://www.khanacademy.org/video/introduction-to-compound-interest-and-e?playlist=Finance here is few video about it, just click next

anonymous · Answer

Thanks, I appreciate that!