Question: Scenario D Suppose that Arthur makes no initial deposit. He makes regular deposits of $ 1 , 0 0 0 on the 5 th of

Scenario D
Suppose that Arthur makes no initial deposit. He makes regular deposits of $1,000 on the 5th of each month. Interest
compounds on the last day of each month at an APR of 6%. Arthur would like the account balance to eventually
reach $40,000.
Determine the month and year on which Arthur will achieve his goal. Your answer must be in the form "Month,
Year." Bonus points may be awarded if the correct day is given (in addition to the month and year), and the final
answer is presented in the form "Month, Day, Year."
Scenario D Suppose that Arthur makes no initial deposit. He makes

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