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Moxie wants to have $5000. How much money does she have to deposit in an account at 6% interest, compounded 3 times per year, in order to have $5000 at the end of 4 years?

Verified Answer :

21SAVAGEEE

your future amount is 5000r is the interest rate as a decimaln is the number of periods 

Solve this equation for xx(1.02)12=5000

casthomas01

Answer:

I think the answer is 3942.47.

Step-by-step explanation:

5000÷(1+0.06/3)^(3*4)

=3942.4658...

once rounded to to nearest hundredth it is 3942.47.

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