Asked by Morgan
How much did you invest each month at 6.10% compounded monthly if 10 years later the investment is worth $57,670.12?
Answers
Answered by
Reiny
let the payment be p
i = .061/12 = .0050833
n = 120
p( 1.00508333^120 - 1)/.0050833
solve for p
i = .061/12 = .0050833
n = 120
p( 1.00508333^120 - 1)/.0050833
solve for p
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.