Receive monthly to reach goal

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Tom has $5000 to invest and would like to buy a $9500 jet ski on 4 years. If interest rate is compounded monthly, what interest he has to receive monthly to reach his goal?

Reference no: EM131341027

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Receive monthly to reach goal : Tom has $5000 to invest and would like to buy a $9500 jet ski on 4 years. If interest rate is compounded monthly, what interest he has to receive monthly to reach his goal?
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