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OpenStudy (anonymous):
how much money should be deposited in an account that earns 9.5% compounded monthly so that it will ccumulate to 10,000 in three years
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OpenStudy (amistre64):
might as well just deposit the 10000 .....
OpenStudy (amistre64):
FV = PV(1+r/n)^(nt) FV/(1+r/n)^(nt) = PV t = years, n = 12, since its monthly
OpenStudy (anonymous):
i had gotten that far, just plugging in the numbers and calculating the amount is where im stuck
OpenStudy (amistre64):
you might want to change the batteries in your calculator then :) http://www.wolframalpha.com/input/?i=10000%2F%281%2B.095%2F12%29%5E%2836%29
OpenStudy (anonymous):
too kind :)
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OpenStudy (amistre64):
good luck
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