SOLUTION: If you make payments at the end of each month into an account that earns 6% annual interest, what size will each deposit need to be in order to have $30,000 at the end of 5 years?

Question 1194554: If you make payments at the end of each month into an account that earns 6% annual interest, what size will each deposit need to be in order to have $30,000 at the end of 5 years? Round your answer to 2 decimal places.
Answer by ikleyn(52802) (Show Source): You can put this solution on YOUR website!
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If you make payments at the end of each month into an account that earns 6% annual interest, what size
will each deposit need to be in order to have $30,000 at the end of 5 years? Round your answer to 2 decimal places.
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The problem is INCOPLETE, since it says NOTHING about the compounding period.

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