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If you want to have $10,000 in 10 years, which of the following formulas represents how much money you must put in a savings account
If you want to have $10,000 in 10 years, which of the following formulas represents how much money you must put in a savings account today? Assume that the savings account pays 6% and it is compounded annually.
10,000 * (1 + .06)10
10,000/(1 + .006)10
10,000/(1 + .6)10
10,000/(1 + .06)10
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