SOLUTION: James and Susan wish to have 10,000 available for their wedding in 2 years. How much money should they set aside now at 6% compounded monthly in order to reach their financial goal

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Question 813904: James and Susan wish to have 10,000 available for their wedding in 2 years. How much money should they set aside now at 6% compounded monthly in order to reach their financial goal?
Answer by ewatrrr(24785)   (Show Source): You can put this solution on YOUR website!
 
Hi,
In General
A = Accumulated Amount = 10000
P= principal =
r= annual rate = .06
n= periods per year = 12
t= years = 2


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