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You need to have $80,000 saved in 10 years. If your account earns 5% compounded monthly, how much would you need to deposit each month to reach your goal? Round answer to the ne…

You need to have $80,000 saved in 10 years. If your account earns 5% compounded monthly, how much would you need to deposit each month to reach your goal? Round answer to the ne…
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You need to have $80,000 saved in 10 years. If your account earns 5% compounded monthly, how much would you need to deposit each month to reach your goal? Round answer to the nearest cent.

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User ITayb
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8.3k points

1 Answer

5 votes

To determine the compound interest on monthly:

answered
User Arjun Kava
by
8.8k points
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