Pope Lindsey
09/21/2024 · Middle School
How much would you need to deposit in an account now in order to have \( \$ 5000 \) in the account in 10 years? Assume the account earns \( 2 \% \) interest compounded monthly.
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You need to deposit approximately \( \$4096.82 \) now to have \( \$5000 \) in 10 years with a 2% interest rate compounded monthly.
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