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Alex wants to have $3000 in his bank account after 4 years. If the account earns 6% interest compounded 2 times per year, how much should he put in?

Alex wants to have $3000 in his bank account after 4 years. If the account earns 6% interest compounded 2 times per year, how much should he put in?
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Alex wants to have $3000 in his bank account after 4 years. If the account earns 6% interest compounded 2 times per year, how much should he put in?

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User Tim Harrington
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7.7k points

1 Answer

4 votes
A=p(1+i/k)^kn,,3000=p(1+0.06/2)^2*4==2,368.23
answered
User BZKN
by
8.4k points
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