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22 May, 03:49

You need to have $50,000 in 10 years. You have the ability to deposit money into an account that pays 5% compounded annually today. How much should you deposit in order to have the $50,000 in 10 years?

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  1. 22 May, 04:09
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    Deposit one time today? or monthly? if deposit today $30,695.66 @ 5% compounded interest annually would give you exactly $50k in 10 years
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