What sum of money will grow to $2000 in seven years at 9% compounded monthly?
Thanks any help is great.
2000 = S (1 + .09/12)^(7 *12) where S is the original sum......divide both sides by (1 + .09/12)^(7 *12)
2000 / (1 + .09/12)^(7 *12) = S = $ 1067.69
+598 
