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Asked by gaye

will need 3000 for a down payment on house in 10 years. account earns 6% compounded monthly, how much needs to be deposited now to reach that goal?
8 years ago

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Answered by Steve
A(1+.06/12)^(12*10) = 3000
Now just solve for A
8 years ago
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will need 3000 for a down payment on house in 10 years. account earns 6% compounded monthly, how much needs to be deposited now to reach that goal?

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