I have just started doing compound interest, and whilst doing a practice test I got stuck on this question.
How much money must you deposit at 7% per annum compound interest, compounding yearly,
If you require $10 000 in 3 years’ time? Give your answer to the nearest dollar
Much appreciated if anyone could help
How much money must you deposit at 7% per annum compound interest, compounding yearly,
If you require $10 000 in 3 years’ time? Give your answer to the nearest dollar
Much appreciated if anyone could help