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13 March, 05:56

Tanisha wants to have $1000 in her bank account in 5 years. How much money should she deposit if her account earns 6% interest which is compounded 2 times per year?

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  1. 13 March, 09:32
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    Here is how you set it up:

    1000 / (1 + (0.06/2)) ^ (2*5) = $744.09

    Your answer is: $744.09

    Have an amazing day and stay hopeful!
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