Suppose you are depositing an amount today in an account that earns 6% interest, compounded annually. If your goal is to have $5,000 in the account at the end of six years, how much must you deposit in the account today? A $6,000 B $3,731 C) $3,525 D $439

Advanced Engineering Mathematics
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Suppose you are depositing an amount today in an account that earns 6% interest, compounded annually. If your goal is to
have $5,000 in the account at the end of six years, how much must you deposit in the account today?
A) $6,000
B $3,731
C) $3,525
D $439
Transcribed Image Text:Suppose you are depositing an amount today in an account that earns 6% interest, compounded annually. If your goal is to have $5,000 in the account at the end of six years, how much must you deposit in the account today? A) $6,000 B $3,731 C) $3,525 D $439
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