Asked by tim
Saving. How much money should be invested monthly at 6% per year, compounded monthly, in order to have $2000 in 8 months?
Answers
Answered by
Reiny
i = .06/12 =.005
n = 8(12) = 96
P(1.005)^96 = 2000
solve for P
n = 8(12) = 96
P(1.005)^96 = 2000
solve for P
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