Suppose you need $12,000 in 3 years. How much must you invest per month in order to have 12,000 if the annual rate is 6\% compounded monthly?

step-by-step explanation:

first, eliminate the parenthesis:

3

x

+

2

−

4

x

second, group like terms:

3

x

−

4

x

+

2

third, combine like terms:

(

3

−

4

)

x

+

2

→

−

1

x

+

2

→

−

x

+

2

1. minimum

2. 6400

3. eight

hope this !