Julie wishes to begin making monthly deposits into a savings account which earns 5% interest annually. if she intends to have sa

Question

Yuki888 [10]

2 years ago

15

Julie wishes to begin making monthly deposits into a savings account which earns 5% interest annually. if she intends to have sa

ved $8,500 by the end of 3 years, how much must she deposit each month?

Mathematics

1 answer:

PtichkaEL [24] · Answer 1 · 2022-06-13T02:36:58+03:00

PtichkaEL [24]2 years ago

3 0

Ok... simple enough. 8,500 / 3 = 2,833.33 2,833.33 * .05 (5%) = $141.66 intrest annuelly how much is your aproximate intrest earning at the end of 3 years?