What amount must this person now commit to the membership?

To join an upscale country club an individual must first purchase a membership bond for $15000. In Show more To join an upscale country club an individual must first purchase a membership bond for $15000. In addition monthly membership dues are $290. Suppose an individual wants to put aside a lump sum of money now to pay for her basic country club membership expenses (including the $15000 bond) over the next 27 years. She can earn an APR of 4% compounded monthly on her investments. What amount must this person now commit to the membership? Show less

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