The information in the table shows how much a specific monthly contribution will result in after 7 years of investment with a 4% annual interest rate, compounded monthly. If the goal is to have at least $7,000 after 7 years, what is the minimum amount that this investor should invest each month? (1 point)
We can find the minimum amount that this investor should invest each month by looking at the value in the table that is closest to $7,000 after 7 years. From the table, we can see that with a monthly contribution of $150, the investment will result in a balance of $7,002.92 after 7 years. Therefore, the minimum amount that this investor should invest each month is $150.
