1. ## [SOLVED] Simple Annuities

I am getting confused with the calculation for this. what i am seeing of similar examples i can't seem to calculate to get the same answer. Can i please get some help?

A couple wishes to accumulate $45,000.00 in 2 yrs. They make equal monthly deposits, beginning Jan 1st, 2007. If interest is paid at a rate of$\displaystyle J_{12}=9.75\$%, What is their monthly deposit?

2. Ok i have been looking again, and i may have got it. Is this correct?

45000 = (1.008125) (26.382) x
x = 1691.96

3. Yes it is.