A friend wants to save up 30000 in 4 years. How much should they deposit...

90.2K

Verified Solution

Question

Finance

A friend wants to save up 30000 in 4 years. How much should they deposit every month in an account earning 6% COMPOUNDED MONTHLY in order to meet their goal?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students