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If you want to have $45000 in an account after 23 years, how much should you deposit once a month into the account if it
If you want to have $45000 in an account after 23 years, how much should you deposit once a month into the account if it pays 2.7% interest compounded monthly? Identify your variables: A = 45000 T= 2.7 n = 12 t = 23 Which is a correct formula for solving this problem? T n A = P(1+)" OPMT A (1 + 3)" - 1 4 PMT P. O I= Prt -662 20 A = Per -- (1 + ) (1 + 5) al 1 P. PMT (1 + )" - 1 PMT --) Solve for the amount of money in the account: $ B 0
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