CALCULATE: How much to set aside each period if you
need so much money in the future?
You need to put a new roof on a building in 10 years at an estimated cost
of $20,000. How much can I invest every month, so by earning interest at 5%
compounded monthly, there will be $20,000 in the bank in 10 years?
note:The result is a
negative number because it is a cash outlay.