Question

"What annual interest rate would you need to earn if you wanted a $400 per month...

"What annual interest rate would you need to earn if you wanted a $400 per month contribution starting 1 month from today to grow to $47,700 in eight years (Assume monthly compounding and that you are starting with no savings)?"

3.50%

5.00%

5.30%

5.03%

Not possible to compute with the data provided
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SOLVED WITH BA II PLUS CALCULATOR

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