How much money must be invested to accumulate $10,000 in 8 years at 6% compounded annually?

Discussion in 'Calculator Requests' started by math_celebrity, Feb 24, 2020.

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  1. math_celebrity

    math_celebrity Administrator Staff Member

    How much money must be invested to accumulate $10,000 in 8 years at 6% compounded annually?

    We want to know the principle P, that accumulated to $10,000 in 8 years compounding at 6% annually.

    We plug in our values for the compound interest equation and we get:
    $6,274.12
     
    math_celebrity, Feb 24, 2020
    #1

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