Question

A company will need $75,000 in 6 years for a new addition. To meet this goal, the company deposits money in an account today that pay 6% annual interest to total $75,000 in 6 years. The company should invest $.....?

Answer 1

im srry i have no idea

Answer 2

you should use Interest formula

Answer 3

I=Pe^rt

Answer 4

is the interest compounded or not?

Answer 5

No answers, let him attempt it, he has been given sufficient information.

Answer 6

75,000=P^0.06*6
And solve for P

Answer 7

Ok

Answer 8

Thank you, not Ok

Answer 9

would it be 2083