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How much must you deposit in an account that pays 8% interest, compounded monthly to have a balance of $1000 after 3 years?

How much must you deposit in an account that pays 8% interest, compounded monthly to have a balance of $1000 after 3 years?
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2 votes
How much must you deposit in an account that pays 8% interest, compounded monthly to have a balance of $1000 after 3 years?

asked
User Prince Ahmed
by
8.3k points

1 Answer

0 votes
1259.712
To be exact.
answered
User Dustinrwh
by
8.3k points
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