I have a question about annuities.

label Mathematics
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

Here is my problem. 

How much would you need to deposit in an account each month in order to have $50,000 in the account in 9 years? Assume the account earns 6.5% interest. 

May 3rd, 2015


ar^n-1=50000

a1.065^8=50000

a=50000/1.6550

=$30211.50

May 3rd, 2015

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May 3rd, 2015
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May 3rd, 2015
Sep 26th, 2017
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