Question 31439
Yearly saving = [(final goal)(yearly interest rate)]/[(1+yr.int.rate)^n - 1]
R=[Si]/[(1+i)^n - 1]
R=[40,000(0.05)]/[(1+0.05)^6 - 1]
R=2000/0.34=$5882.35 (yearly saving required)
Cheers,
Stan H.