How much 2

How much money would you need to deposit today at 5% annual interest compounded monthly to have $2000 in the account after nine years?

Correct answer:

a =  1276.4491 USD

Step-by-step explanation:

p=5%=1005=201=0.05 b=2000 n=9 12=108 m  i=1+p/12=1+201/12=2402411.0042  a in=b=2000  k=in=1.00421081.5668  a=kb=1.56682000=1276.4491 USD

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