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Stephanie is the CEO of Boeing. The company has experienced decreased sales over the last few months due to issues with the 737 Max. Stephanie
Stephanie is the CEO of Boeing. The company has experienced decreased sales over the last few months due to issues with the 737 Max. Stephanie has made it a priority to ensure that Boeing is in a financial position to handle any similar issues in the future. Stephanie decides that Boeing needs to have 92,818 dollars in their cash reserves (i.e. savings account) in 12 years to be in a good financial position. If the account pays 8% per year, compounded monthly, how much money needs to be set aside at the end of every month to meet the savings goal? (note: round your answer to the nearest cent and do not include spaces, currency signs, or commas)
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