# Moxie wants to have $5000. money does she have to deposit in an account at 6% interest, compounded 3 times per year, in order to have $5000 at the end of 4 years?

##### 1 Answer

Jan 13, 2018

Around 2488 dollars

#### Explanation:

If we set

1.06 because her money is multiplied by 106% every time, and to the power of 12 because interest is compounded 3 times per year for 4 years.

So just solve for