You need $5,000 in 6 months for your property tax bill. If your investments earn 4% APR (compounded monthly)

You need $5,000 in 6 months for your property tax bill. If your investments earn 4% APR (compounded monthly), how much do you have to invest each month, starting next month, for 3 months, such that your investment will grow to just cover your property tax bill?

Future value is the value of a future amount at the present time, found by applying compound interest over a specified period of time

Future value is the value of a future amount at the present time, found by applying compound interest over a specified period of time. True False