Joseph's investment manager offers him an interest rate of 10.00% compounded monthly on his investments. How much more money would he have to deposit at the end of every month for his fund to accumulate to $465,000.00 in 20 years if the interest rate was 10.00% compounded annually?

Answer rating: 100% (QA)

To solve this problem we need to compare two different scenarios 1 Compound interest monthly at 1000 ... View the full answer