Answer:
$95.5090 must be deposited monthly
Explanation:
From the information given:
The annual interest rate (r) = 4.2% = 0.042
Let assume that an amount Y is deposited, then after one month, it will increase to:

The total amount after 4 years will be:


Using the sum of a geometric progression:


The above amount is then equal to $5000
i.e

