How do calculate the size of periodic deposits into the fund

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Reference no: EM132779626

Histine contributed equal deposits at the end of every month for 3 years into an investment fund. He then decided to stop making payments and left the money in the fund to grow for another 3 years. The fund was earning 2.81% compounded monthly for the entire period and the accumulated amount at the end of the term was $100,000.

Problem a. Calculate the amount in the fund at the end of 3 years.

Problem b. Calculate the size of the periodic deposits into the fund.

Reference no: EM132779626

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