What is roses required monthly deposit at the beginning of


Rose wants to buy a second home that will eventually become her retirement home and does not want a mortgage to finance this second home. She plans to spend approximately $104,613 in 15 years on this purchase. She has two zero-coupon bonds that mature in 15 years each with cash values of $1,550.39 and face values of $2,500. In 15 years, she will use them as part of her $104,613. What is Rose's required monthly deposit at the beginning of each month in order to accumulate the $104,613 she needs to buy her home at an assumed interest rate of 14.94% on her investment?

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Financial Management: What is roses required monthly deposit at the beginning of
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