Question

How much would I have to deposit now in order to have 150,000 in 18 years

Answer 1

I think the answer is $41.66

Explanation:

I found how many months it was, which was 216.

Divided 150,000 by 216, which was 694.44.

And lastly, I multiplied 694.44 by 0.06(the same as 6%) and that gave me 41.66.