1. The problem statement, all variables and given/known data Mike needs $12.000 in 5 years. How much must he deposit at the end of each month for 5 years in an account paying 2.9% compounded monthly so that he will have $12.000 in 5 years? 2. Relevant equations FV formula: S=R*((1+i)^n -1)/i I think that is the correct formula 3. The attempt at a solution Honestly i dont have a clue on this....please help!!!