How much should you deposit each month in order to save $20,000 in five years? The account you will use pays 5.75% APR compounded monthly. PMT= A divided by 1 plus APR divided by n to the factor of n...

How much should you deposit each month in order to save $20,000 in five years? The account you will use pays 5.75% APR compounded monthly.

PMT= A divided by 1 plus APR divided by n to the factor of n times Y minus 1 divided by APR divided by n) or [(1+APR/N)^(nY)-1)/(APR/n)].