How much will I have to deposite to my savings each month to accumulate $6,000 in seven months?
If I start with $68.04 in my savings account with a 4% interest, compounded monthly, how much would I need to put into the savings account each month in order to accumulate $6,000?
How do I solve this problem using a TVM calculator? I couldn’t quite figure out how to piece together all this information.
841.68 for TAX at 33%
840.54 for TAX at 19.5%
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