How much would you need to deposit in an account now in order to have $5000 in the account in 5 years? Assume the account earns 4% interest compounded annually. Round your answer to the nearest cent 9:01×MyOpenMathmyopenmath.comquestion belowHow much would youneed to deposit in anaccount now in orderto have $6000 in theaccount in 5 years?Assume the accountearns 5% interestcompounded annually.|Enter an integer or decimal number [more..]<Round your answer tothe nearest cent.Submit QuestionO| 61%5<

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How much would you need to deposit in an account now in order to have $5000 in the account in 5 years? Assume the account earns 4% interest compounded annually. Round your answer to the nearest cent

Intermediate Algebra

10th Edition

ISBN:9781285195728

Author:Jerome E. Kaufmann, Karen L. Schwitters

Publisher:Jerome E. Kaufmann, Karen L. Schwitters

Chapter11: Exponential And Logarithmic Functions

Section11.2: Applications Of Exponential Functions

Problem 27PS

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