Question

How much would you need to deposit in an account now in order to have $6000 in the account in 15 years? Assume the account earns 6% interest compounded monthly.

Expert Answer

Want to see the step-by-step answer?

See Answer

Check out a sample Q&A here.

Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

See Answer
*Response times vary by subject and question complexity. Median response time is 34 minutes and may be longer for new subjects.
Tagged in

Related Algebra Q&A

Find answers to questions asked by student like you
Show more Q&A

Q: Solve the equation for the unknown quantity 19.42 = P(1.2)3

A: First we simplify (1.2)^3.(1.2)^3=1.728

Q: Simplify the difference quotients f(x+h)-f(x)/h and f(x)-f(a)/(x-a) for the following function by ra...

A: Here, we find f(x+h)  by replacing x by x+h  ,substitute the values of f(x+h) and f(x) and then by r...

Q: using the values a=4, b=2 and c=5, find the value of each of these expressions. a) 4a+2b b) 2a=b ove...

A: Click to see the answer

Q: Find an equation of the parabola with vertex , −1−2 and focus , −5−2 .

A: Given information:The vertex of parabola is (1,2).The focus of parabola is (5,2)

Q: Solve the system. If there is no solution or if there are infinitely many solutions and the system's...

A: Click to see the answer

Q: Two angles are supplementary if the sum of their angles is 180 degrees. One of two supplementary ang...

A: To calculate the value of two supplement angle. If the sum of two supplementary angle is 180o. In th...

Q: Given the function fx)- (x +7), (a) Find f (x). (b) Graph f andf in the same rectangular coordinate ...

A: We first replace f(x) by y. Then we switch x and y. And then solve for y. This new y is replaced by ...

Q: Find the coordinates of the vertex of the quadratic functions beneath:   y=3x2 y=3x2-2 y=-x2+3

A: (a)We can compare with quadratic equations and find a , b and c 

Q: Solve the inequality using a graphing utility. X+ 1 s2 X- 2 Graph the given inequality using a graph...

A: Calculation:Use a graphing calculator and obtain the graph of the given rational function as shown b...