Potter Murphy
04/11/2023 · Junior High School
Question 5 How much would you need to deposit in an account now in order to have \( \$ 3000 \) in the account in 5 years? Assume the account earns \( 3 \% \) interest compounded monthly. Question Help: \( \square \) Message instructor Check Answer
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You need to deposit approximately $2580.24 now to have $3000 in 5 years with a 3% interest rate compounded monthly.
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