How much will you need to save per month to have $200,000 after 12 years, if your account earns 5% interest per year, compounded monthly?

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section: Chapter Questions
Problem 22T
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6. How much will you need to save per month to have $200,000 after 12 years, if your account earns 5% interest per year, compounded monthly?
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