Suppose you are depositing an amount today in an account that earns 5% interest, compounded quarterly. If your goal is to have

Question

Suppose you are depositing an amount today in an account that earns 5% interest, compounded quarterly. If your goal is to have $5000 in the account at the end of six years, how much must you deposit in the account today? Round to the nearest dollar.
$3711
$1289
$703
$985

Kunduz · Accepted Answer

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