Monsier Croque plans to save for a Canadian Rockies ski trip in two years. He wants to go to the Lake Louise Ski Areauracao, and anticipates needing $1000. He found a Vacation Club Account at Buffalo Valley Savings & Loan, which offer a 3% annual interest rate, compounded monthly. How much money should he deposit monthly via automatic withdrawal from his checking account to reach this objective?

Answer rating: 100% (QA)

To calculate the monthly deposit required to reach the goal of 1000 ... View the full answer