Deposit at the end of each month in a savings account

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Reference no: EM131519737

TV’s R Yours is advertising a deal, in which you buy a flat screen TV for $1,178 (including tax) with one year before you need to pay (no interest is incurred if you pay by the end of the one year). How much would you need to deposit at the end of each month in a savings account earning 1.2% APR, compounded monthly, to be able to pay the $1,178 bill in one year?

Monthly Deposit:___________

Reference no: EM131519737

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