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Faith is saving money and plans on making monthly contributions into an account earning a...

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Basic Math

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Faith is saving money and plans on making monthly contributions into an account earning a monthly interest rate of 0.75%. If Faith would like to end up with $87, 000 after 7 years, how much does she need to contribute to the account every month, to the nearest dollar? Use the following formula to determine your answer.A = d ((1 + i) - 1)/i)A = the future value of the account after n periodsd = the amount invested at the end of each periodi = the interest rate per periodn = the number of periods

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