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How much should you deposit each month

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You want to purchase a new car in 4years and expect the car to cost ?$54,000. Your bank offers a plan with a guaranteed APR of 5.5% if you make regular monthly deposits. How much should you deposit each month to end up with ?$54,000 in 4 years?

You should invest ?$_____ each month. (Round the final answer to the nearest cent as needed. Round all intermediate values to seven decimal places as? needed.)

Reference no: EM131724748

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