How much should she invest monthly in a sinking fund

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Reference no: EM131516960

Jasica Parker would like to have $42,000 to buy a new car in 8 years. To accumulate $42,000 in 8 ?years, how much should she invest monthly in a sinking fund with 3 % interest compounded? monthly?

The monthly payment is?

Reference no: EM131516960

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