How much would you need to deposit in an account now in order to have $6000 in the account in 5 years Assume the account earns 4% interest compounded monthly. Round to the nearest cent.

5 years=$10

Step-by-step explanation:

count by 5's

x = 6

Step-by-step explanation:

Solve for x:

(5 x)/6 = 5

Multiply both sides of (5 x)/6 = 5 by 6/5:

(6×5 x)/(5×6) = 6/5×5

6/5×5/6 = (6×5)/(5×6):

(6×5)/(5×6) x = 6/5×5

6/5×5 = (6×5)/5:

(6×5 x)/(5×6) = (6×5)/5

(6×5 x)/(5×6) = (5×6)/(5×6)×x = x:

x = (6×5)/5

(6×5)/5 = 5/5×6 = 6:

 x = 6