8 months from now, your organization is planning to purchase new video conferencing equipment for a cost of $12,000. The equipment will have a useful life of 10 years and no salvage value. To pay for it, the organization plans to deposit $4,000 today in an investment account with an annual interest rate of 6.5%. In order to be able to purchase the equipment, 

What is the amount of additional money the organization must put in that investment account at the end of each month for 8 months ?

Answer rating: 100% (QA)

Heres how to calculate the additional monthly deposit needed 1 Future Value Needed The organization ... View the full answer