Hi everybody. I'm trying to figure out a somewhat confusing problem about savings accounts. I want to save 96,000 over the span of 20 years (or 240 months). At the moment there is no money in the account. My account compounds interest monthly at a rate of .5%. How do I determine the amount of money I should be setting back every month to reach my goal? In sum: a_0=0 a_240= 96000 r=0.5%=.005 b=monthly deposits, so, how do I find b? Any input would be greatly appreciated.