Solved: Darby wants to have 100000 in his savings account 5 years, Accounting Basics

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Darby wants to have 100000 in his savings account 5 years

Question - Darby wants to have $100,000 in his savings account 5 years from today. His account earns 8% and is compounded quarterly. How much does he need to deposit today?

A) $ 69,440.00

B) $ 6,115.68

C) $ 65,453.59

D) $ 67,300.00

E) None of the above

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Accounting Basics: Darby wants to have 100000 in his savings account 5 years

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