Based on the amount that she invests monthly, the interest rate, and the targeted retirement amount, the number of payments would be 42 payments.
How many payments should the young professional make?
The number of payments will be the same as the number of months/ periods because that is the frequency of payment.
The number of payments can therefore be found by the NPER formula on a Spreadsheet:
Rate = 11.5%
Pmt = -900
PV = Empty
FV = 730,000
Number of payments is:
= 41.76
= 42 payments.
Find out more on number of periods of payments at https://brainly.com/question/6819835.
