Question 1160115
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It is a classic Ordinary Annuity saving plan. The general formula is 


    FV = {{{P*(((1+r)^n-1)/r)}}},    


where  FV is the future value of the account;  P is the monthly payment (deposit); r is the monthly percentage yield 
presented as a decimal; n is the number of deposits (= the number of years multiplied by 12, in this case).


From this formula, you get for the monthly payment 


    P = {{{FV*(r/((1+r)^n-1))}}}.     (1)


Under the given conditions, FV = $300,000;  r = 0.05/12;  n = 20*12 = 240.  
So, according to the formula (1), you get for the monthly payment 


    P = {{{300000*(((0.05/12))/((1+0.05/12)^240-1))}}} = $729.87.


<U>Answer</U>.  The necessary monthly deposit value is $729.87.


Note that of projected $300,000, the total of your deposits will be only  20*12 times $729.87, 
i.e.  20*12*729.87 = 175169 dollars. The rest is what the account will earn/accumulate in 20 years.
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On Ordinary Annuity saving plans, &nbsp;see the lessons

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=http://www.algebra.com/algebra/homework/Sequences-and-series/Ordinary-Annuity-saving-plans-and-geometric-progressions.lesson>Ordinary Annuity saving plans and geometric progressions</A>

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/Sequences-and-series/Solved-problem-on-Ordinary-Annuity-saving-plans.lesson>Solved problems on Ordinary Annuity saving plans</A>

in this site.


The lessons contain &nbsp;EVERYTHING &nbsp;you need to know about this subject, &nbsp;in clear and compact form.


When you learn from these lessons, &nbsp;you will be able to do similar calculations in semi-automatic mode.