Harmon Wang
07/30/2024 · Elementary School
How much would you need to deposit in an account now in order to have \( \$ 2000 \) in the account in 10 years? Assume the account earns \( 7 \% \) interest compounded monthly.
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You need to deposit approximately \( \$900.00 \) now to have \( \$2000 \) in 10 years with a 7% annual interest rate compounded monthly.
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