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Sophie wants to accumulate at least $35,000 by depositing $1,900 at the end of each month into a fund that earns interest at 4.5% compounded
Sophie wants to accumulate at least $35,000 by depositing $1,900 at the end of each month into a fund that earns interest at 4.5% compounded monthly.
a. How many deposits does she need to make in order to reach her goal?
b. How long will it take Sophie to reach her goal?
Express the answer in years and months, rounded to the next payment period (x) years and (x) months
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