Question 1196118
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FV = future value = R150,000.00 
r = annual rate = 0.10 = 10%
i = interest rate per month = r/12 = 0.10/12 = 0.00833333333333333 approximately
n = number of months = 5*12 = 60


Plug these values into the future value annuity formula
Solve for P
FV = P*( (1+i)^n - 1 )/i
150000 = P*( (1+0.00833333333333333)^60 - 1 )/0.00833333333333333
150000 = P*77.4370721734303
77.4370721734303P = 150000
P = 150000/77.4370721734303
P = 1937.05670669025
P = 1937.06


Answer:   <font color=red>R1937.06</font> needs to be deposited every month.
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