Deposits of $850 per month are made into an investment account.
The interest rate is 6.5% per annum compounding monthly.
How long will it take for the investment to reach $100 000?
Deposits of $850 per month are made into an investment account.
The interest rate is 6.5% per annum compounding monthly.
How long will it take for the investment to reach $100 000?
How is the period of investment calculated?
Data and Calculations: