Formula to calculate monthly amount to be invested

[Tyso]

Hi Everyone

Which formula do you use to calculate the monthly amount to be invested with the following given information?

Lump sum value after 5 years = 1 000 000
Interest rate per year = 5%
Term = 5 years

Thank you for your assistance.

[Crispy85]

Hi,

Doesn't the PMT formula do the trick?

[Tyso]

Hi Crispy85

Thank you for your quick reply!

Much appreciated

[Crispy85]

*duplicate post