James and Susan wish to have $10,000 available for their wedding in 2 years. How much money should they set aside now at 6% compounded monthly in order to reach their financial goal?

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asked Sep 17, 2023 233k views

5 votes

James and Susan wish to have $10,000 available for their wedding in 2 years.

How much money should they set aside now at 6% compounded monthly in
order to reach their financial goal?

Mathematics
college

Anthony Miller asked

by Anthony Miller

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1 Answer

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They need to set aside $8871.86

Shauno answered Sep 23, 2023

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