How much should be deposited today into an account paying 7.5% compounded monthly to have $158,000 in 7 months
The City Library has ordered a new computer system costing $158,000. The system will be delivered in 6 months, and the full amount will be due 30 days after delivery. How much should be deposited today into an account paying 7.5% compounded monthly to have $158,000 in 7 months
