You will require $770 in 6 years. If you earn 4% interest on your funds,...

50.1K

Verified Solution

Question

Finance

You will require $770 in 6 years. If you earn 4% interest on your funds, how much will you need to invest today in order to reach your savings goal? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students