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Julie wishes to begin making monthly deposits into a savings account which earns 5% interest annually. if she intends to have saved $8,500 by the end of 3 years, how much must she deposit each month?
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Julie wishes to begin making monthly deposits into a savings account which earns 5% interest annually. if she intends to have saved $8,500 by the end of 3 years, how much must she deposit each month?

User Avojak
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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?
User Krlmlr
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