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You decide to start saving for an in-ground swimming pool.You determine that you will need $22,000for this project.Your plan is to set aside money each
You decide to start saving for an in-ground swimming pool.You determine that you will need $22,000for this project.Your plan is to set aside money each month into a savings account that pays 4% APR compound interest.How much should you deposit into your savings account each month if you wish to have the pool in 5 years?Round your answer UP to the nearest dollar.(We round up to ensure that you will have the full $22,000at the end of 5years.You may end up with a little extra money this way, too.)
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