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How much would you need to deposit in an account now in order to have...

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Accounting

How much would you need to deposit in an account now in order to have $6,000 in the account in 8 years? Assume the account earns 6% interest compounded monthly. (Please show what it looks like using the FV formula)

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Function Arguments ? FV 1 = number Rate Nper Pmt 1 = number = number number 1 = number Pv til et Type Returns the future value of an investment based on periodic, constant payments and a constant interest rate. Rate is the interest rate per period. For example, use 6%/4 for quarterly payments at 6% APR. Formula result = Help on this function OK Cancel

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