Deposit dependent on savings amount

R

rdjffry82

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Joined
Apr 6, 2020
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2
Can someone please help with this problem I have been struggling around for days???

I need a formula to calculate how much one needs to save each month over 25 years at a 6% return to accumulate $5000 in earned interest.

Thanks,
Jeff
 
Hi rdjffry. Is that 6% simple interest? If it's compounded interest, what is the compounding period?

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