You plan to "go green" and install solar panels on your home in 36 months....
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You plan to "go green" and install solar panels on your home in 36 months. The solar company has a payment plan whereby you will pay for the panels in 120 monthly payments (installments) starting in month 37 Each monthly installment will be for $200 per month. How much would you have to invest each month (the same amount in each month), starting in one month, for 35 months , to exactly pay for the solar panels ,if your investments earn 3.00% APR (compounded monthly)?
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