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Tanisha wants to have $1000 in her bank account in 5 years how much money should she deposit if her account earns 6% interest which is compounded 2 times per year?

Tanisha wants to have $1000 in her bank account in 5 years how much money should she deposit if her account earns 6% interest which is compounded 2 times per year?
asked 141k views
1 vote
Tanisha wants to have $1000 in her bank account in 5 years how much money should she deposit if her account earns 6% interest which is compounded 2 times per year?

asked
User Praful Argiddi
by
8.1k points

2 Answers

4 votes

Answer:

744.09

Explanation:

I know it's correct

answered
User Utdrmac
by
8.8k points
1 vote

=1000/(1+(0.06/2))^(2*5) = $744.09
answered
User Dylanized
by
7.9k points
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