Courtney has decided that she wishes to travel to Malaysia for 4 months when she finishes university. Courtney has estimated that her trip expenses will be $1500.00 per month of travel, and she will require. the full $1,500.00 at the start of each travel month. Courtney plans to fund this trip by depositing equal monthly amounts from her job at Baskin Robbins, the last of which will occur on the day she leaves. Courtney plans to leave in exactly 2 years (24 months). How much must her monthly deposits be (rounded to the nearest dollar) to fund this trip? Her bank has agreed to an interest rate of 7% paid monthly on her savings.

Answer rating: 100% (QA)

To calculate the monthly deposit Courtney needs to make to fund her trip we ... View the full answer