Ask Question
7 May, 22:37

How much money should be deposited today in an account that earns 3 % compounded monthly so that it will accumulate to $13,000 in three years?

+1
Answers (1)
  1. 7 May, 23:03
    0
    In 12 months multiple by 3% = $400. $400:36 months=11 payments So, if, you deposit an equally monthly payment of $361.12, in three years u should accumulate $13,000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “How much money should be deposited today in an account that earns 3 % compounded monthly so that it will accumulate to $13,000 in three ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers