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John plans to make an investment today which promises to return to him $6,000 each year for five (5) years beginning one year from today. The investment account will earn 7% compounded annually. At the
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John plans to make an investment today which promises to return to him $6,000 each year for five (5) years beginning one year from today. The investment account will earn 7% compounded annually. At the end of five years, the investment account balance will be zero.

What is the amount of John’s monthly payment?

User WilHall
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6 votes

Answer:

Give me a quick sec. Imma solve it out.

Step-by-step explanation:

Imma solve it out. Gotta give me a sec

User Nicensin
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