Determine Monthly Deposit Needed Given Future Value of Savings Annuity (Formula)

Goat

Is this something EXCEL can do?

what would you do if you have a beginning cash flow

THANK YOU THANK YOU THANK YOU.

28. Nadia intends to get married in eight years time. She estimates that the cost of the wedding will be RM20000 then. She intends to save this amount by making equal monthly deposits at the end of each month in a bank that pays 5% compounded monthly
i. How much will this monthly deposit be?
ii. After paying for two years, that estimated cost of the wedding has gone up to RM30000
a) What should be the new monthly deposits?
b) In instead of making the additional monthly deposits, Nadia decides to make a lump sum deposit X at the end of two years, calculate the value of X

Thankss a lot

How would you solve this if the interest rate is not given?

Very nice sir 👍👍

im still lost: You expect to retire in 25 years. After you retire, you want to be able to withdraw $4,000 from your account each month for 30 years.

If your account earns 6% interest compounded monthly, how much will you need to deposit each month until retirement to achieve your retirement goals?

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I was literally struggling with how to solve this part of my homework but then I saw this video and It was so much helpful thank you! Doing math online is definitely not the easiest🤷🏻‍♀️

You are wonderful, my prof made my head spin instead of simplify the formulas, it is indeed helpful to me.

thanks!

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Thank you so much ❣️

I was struggling with this so much, I had no idea what I couldn't figure out. But this makes the formula SOOOOOO easy to work through. Thanks so much!

how do you solve if N is not given

Thanks for all your help