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Julie's parents' 25th anniversary is in 4 years. She'd like to give her parents a vacation package for their anniversary. She anticipates the vacation package will cost her $2,200. An account at her bank pays 4% per year compounded monthly. How much does she need to deposit today in this account, so that she can buy the package deal for her parents' anniversary

Respuesta :

adhaniel

Answer:

She needs to deposit $352.00

Explanation:

Because simple Interest is solved using Principle($2,200)× Rate(4%) × Time(4 years) divided by 100

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