Claculating the banks compounded interest


Problem:

You want to accumulate $500,000 in a savings account in 20 years. If the bank pays 6% compounded annually, how much should you deposit in the account?

Solution Preview :

Prepared by a verified Expert
Accounting Basics: Claculating the banks compounded interest
Reference No:- TGS02028625

Now Priced at $10 (50% Discount)

Recommended (93%)

Rated (4.5/5)