posted by Thara! .
What amount 18 months ago is equivalent to $2300, 1.5 year from now if money earn 7% compounded monthly during the interving time?
i know: FV=$2300 j=7% m=12 and ?n=36?
The answer is $1865.45
What i don't understand is how do we get the "n=36"...plz help!!!