Question
Alexander wants to accumulate at least $60,000 by depositing $800 at the end of every month into a fund that earns interest at 6.50% compounded
Alexander wants to accumulate at least $60,000 by depositing $800 at the end of every month into a fund that earns interest at 6.50% compounded monthly.
a. How many deposits does she need to make to reach her goal?
Round to the next payment
b. How long will it take Alexander to reach her goal?
Express the answer in years and months, rounded to the next payment period
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Urban Infrastructure Finance And Management
Authors: K. Wellman, Marcus Spiller
1st Edition
0470672188, 978-0470672181
