Question: If 2 0 0 , 0 0 0 must be available in 1 0 years by depositing equal amount monthly for 6 years, what must

If 200,000 must be available in 10 years by depositing equal amount monthly for 6 years, what must each monthly deposit be to attain this goal if nominal interest is 18%.
Answer : 764.17
Provide detailed solution

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 Finance Questions!