Emma is saving money and plans on making monthly contributions into an account earning a monthly interest rate of 0.475%. If Emma would like to end up with $14,000 after 14 months, how much does she need to contribute to the account every month, to the nearest dollar? Use the following formula to determine your answer. A=d(((1+i)^(n)-1)/(i)) A= the future value of the account after n periods d= the amount invested at the end of each period i= the interest rate per period n= the number of periods Answer:

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Emma is saving money and plans on making monthly contributions into an account earning a monthly interest rate of  0.475%. If Emma would like to end up with  $14,000 after 14 months, how much does she need to contribute to the account every month, to the nearest dollar? Use the following formula to determine your answer.  A=d(((1+i)^(n)-1)/(i))  A= the future value of the account after  n periods  d= the amount invested at the end of each period  i= the interest rate per period  n= the number of periods Answer:

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Identify Given Values: Identify the given values from the problem. A (future value of the account) = $14,000 i (interest rate per period) = 0.475% per month, which is 0.00475 in decimal form n (number of periods) = 14 months We need to find the value of d (the amount invested at the end of each period).Convert Interest Rate: Convert the interest rate from a percentage to a decimal. i = 0.475% = 0.475 / 100 = 0.00475Plug Values into Formula: Plug the values into the formula to solve for d. A = d * (((1 + i)^(n) - 1) / i) $14,000 = d * (((1 + 0.00475)^(14) - 1) / 0.00475)Calculate Value Inside Parentheses: Calculate the value inside the parentheses. (1 + 0.00475)^(14) - 1 = (1.00475)^(14) - 1 = 1.069678 - 1 = 0.069678Divide by Interest Rate: Divide the result by the interest rate i. 0.069678 / 0.00475 = 14.664842105263158Solve for d: Solve for d by dividing A by the result from Step 5. d = $14,000 / 14.664842105263158 d ≈ 954.545Round to Nearest Dollar: Round the result to the nearest dollar. d ≈ $955

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