What monthly payment, PMT , would you need to deposit into an account that earns 1.5% compounded monthly to earn a future value, FV , of $7,500 in three years? This amount can be found by using algebra to rearrange the function, FV=PMT((1+rn)(nY)1)(rn) FV = PMT 1 + r n nY 1 r n , so that FV FV becomes an input variable and PMT PMT becomes the output variable. PMT=FV(rn)((1+rn)(nY)1) PMT = FV r n 1 + r n nY 1 Use this function to find the amount to deposit each month to earn $7,500 in 3 years