How much cash must be deposited in a savings account In Order To Accumulate 50,000 At End Of 7 Years With 12 % Interest Rate?

Question

How much cash must be deposited in a savings account  In Order To Accumulate 50,000 At End Of 7 Years With 12 % Interest Rate?

Reiny · Answer

Amount = Principal(1+i)^n 50000 = Princ(1.12)^7 principal = 50000/(1.12)^7 = 22617.46

Lance · Answer

Thank you Reiny.