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You need to pay for the property taxes on your house in 6 months. The property...

You need to pay for the property taxes on your house in 6 months. The property taxes at that time will be $6,000 . How much do you have to invest each month, starting next month, for 5 months to exactly pay for the taxes if your investments earn 5.00% APR (compounded monthly)? a. 1,185 b. 1,227 c. 1,221 d. 1,140 d.

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SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP PLEASE

As nothing was mentioned excel is used. If you need with financial formula, let me know, will do that also. Thank you.

jeff jeffy answered 2 months ago
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