Question: i need help with this question. because im confused like how to plug them in calculator or work steps. How much would you need to

i need help with this question. because im confused like how to plug them in calculator or work steps.

How much would you need to deposit in an account each month in order to have $40,000 in the account in 8 years? Assume the account earns 6.3% interest. Round your answer to the nearest cent as needed

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

Could you solve each problem, and please explain the steps needed for each question because I'm confused on what do because I don't understand the concepts behind how to solve it. 1) Locational...

What's the matter with understanding an individual's economic outcomes solely in terms of personal finance? (quote the article) There's also deferment and forbearance, which is sort of like hitting...

Good Morning Dr.Ramsey Please assist me with my discussion this week ( min 150 words). Advanced Time Value of Money An advertised monthly lending rate of 0.9% is about 11% per year. This difference...

HellonDr.Ramsey Can you assist me with my discussion please, Min 150 words due Friday. Basic Time Value of Money It is a common fact that many lottery winners are ?broke? sooner than later. If you...

DAVID DOESN'T DELEGATE Overcoming an Individual's Immunity to Change AS ANY EXPERIENCED MANAGER will tell us, being an effective delegator is crucial to using everyone's time, skills, and knowledge...

I need chapters 18, 19, 20, and 21 for the workbook for Personal Finance by Madura!! Please help!!! Personal Finance, Fifth Edition by Jeff Madura BUILDING YOUR OWN FINANCIAL PLAN WORKBOOK INDEX...

What if the total number of firefighters are limited due to turnover or other challenges in hiring? Starting from the benchmark solution, limit the total number of firefighters by 1, 2, 3, ..., 10....

We would like to construct Judy's personal balance sheet from the following information. Fill in the following blanks in the table with A or L. If the item belongs to Assets, fl. ll the item belongs...

Hi dear Tutor! ples rd this text and answr questions below Jennie is a 20-year-old college sophomore. She has a small build with long dark hair and large expressive brown eyes. Attending a small...

ORGANIZATIONAL BEHAVIOUR (OBEO) ASSIGNMENT HANDOUT AND MURUNG SCHEME CASE ANALYSIS MODEL The following represent the steps that you should take in working through your case. You will not necessarily...

Matrices A and B are m ( n, and their reduced row echelon forms are the same. What is the relationship between the null space of A and the null space of B?

The block of mass m sliding without friction along the looped track shown in Fig. 6-39 is to remain on the track at all times, even at the very top of the loop of radius r. (a) In terms of the given...

Which of the following firms would not normally be part of an initial public offering ( IPO ) ? A ) Underwriters B ) Broker - dealers C ) Third - market dealers D ) Investment bankers

CORBA Project The following should be implemented in CORBA. The client is going to send to the server a salary and a tax rate. The server is going to respond with what the tax is and they will have a...