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Elon Musk has created his trust fund of $ 5 5 , 0 0 0 , which is invested at 8 . 4 % 1

Elon Musk has created his trust fund of $55,000, which is invested at 8.4%13141516 compounded monthly. It is to be left to accumulate interest for five years after which it is to support, in perpetuity, equal payments to be made at the end of every month. What will be the size of the payments? 1719 $91620 $385 $58521 $741

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