Logan wants to have $130,000 to pay for a surgery on his retractable forearm claws in 30 months. If he can invest money in an account right now that will give him 7.5% interest compounded monthly, how much would he have to invest now to end up with the amount needed for the surgery later on?

$107,836.69 or about $107,837 (to the nearest dollar)

Step-by-step explanation:

Formula to the  accumulated amount received after investing principal amount (P) at rate of interest (r) compounded monthly for t months :

As per given , A = $130,000

r= 7.5% = 0.075

t= 30 months

Now,

Hence he need to invest $107,836.69 .

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