x(1.015)^24 = 35000
x = 24484.04
A company will need $35000 in 6 years for a new addition. To meet this goal the company deposits money in an account today that pays 6% annual interest compounded quarterly. Find the amount that should be invested to total $35000 in 6 years. The company should invest
2 answers
PRT Formula
35,000(.06)(6years) = 1260
35,000(.06)(6years) = 1260
1 answer