How much should be deposited now in order to have $45,000 in 8 years, if the account earns 6.57% compounded monthly?

Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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5. How much should be deposited now in order to have $45,000 in 8 years, if the
account earns 6.57% compounded monthly?
45,000= P(1+ 0657
45,000= (689050269) P)
aG642.1910구
$426642.19 Should be deposited
now in order to have $45000
in 8 years If the account
earns 6.57%o compounded
monthly.
12
Transcribed Image Text:5. How much should be deposited now in order to have $45,000 in 8 years, if the account earns 6.57% compounded monthly? 45,000= P(1+ 0657 45,000= (689050269) P) aG642.1910구 $426642.19 Should be deposited now in order to have $45000 in 8 years If the account earns 6.57%o compounded monthly. 12
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