I am looking for the formula to solve this problem:
What interest rate would allow you to accumulate 10,000 in 8 years if you saved $60 per month and earned compound interest monthly.
The accumulated amount is FV at the end of 8 years
Installment is $60 per month
t= No of periods = 8*12=96
The formula to be used is
FV = ...
Help with Compounding Interest is emphasized. The interest rates which would allow you to accumulate 10,000 in 8 years is determined.