How much do you need to put aside each month

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Reference no: EM132033258

A trip to the South Pacific You decided to make monthly deposits into your savings account to have $8,000 by next August, which is 7 full months away, for your trip to the South Pacific. In total, you expect to make 8 deposits, with the first deposit today.

How much do you need to put aside each month, assuming that your savings account earns monthly interest rate at the rate of 1% per month?

Reference no: EM132033258

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