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How much would you need to deposit in an account now in order to have $5000 in the account in 10 years? Assume the account earns 5% simple interest.

How much would you need to deposit in an account now in order to have $5000 in the account in 10 years? Assume the account earns 5% simple interest.
asked 41.4k views
4 votes
How much would you need to deposit in an account now in order to have $5000 in the account in 10 years? Assume the account earns 5% simple interest.

asked
User Sparkmasterflex
by
8.0k points

1 Answer

4 votes

Answer:

9%

Explanation:

answered
User Stephen Lautier
by
8.3k points
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