Ask Question
14 October, 01:52

How much money would need to be deposited into an account earning 5.75% interest compounded annually in order for the accumulated value at the end of 25 years to be $85,000?

+5
Answers (1)
  1. 14 October, 01:59
    0
    I will assume you are using compound interest.

    let the amount invested be x

    x (1.0575) ^25 = 85000

    x = 85000/1.0575^25 = $21,009.20
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “How much money would need to be deposited into an account earning 5.75% interest compounded annually in order for the accumulated value at ...” 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