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You would like to have $9,000.00 in 8 years for a special vacation following graduation by making deposits at the end of each month
You would like to have $9,000.00 in 8 years for a special vacation following graduation by making deposits at the end of each month in an annuity that pays 3.5% compounded monthly. How much money should you deposit at the end of every month? Round to the nearest penny and use rounded values for all future calculations. How much of the $9,000.00 comes from deposits and how much comes from interest? of the $9,000.00 comes from your deposits and $ $ comes from interest.
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