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How much will you need to deposit every month

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Question - Consider setting a goal with a longer-term: You have decided to save for your newborn's college education and have determined that by the time the child reaches 18 you would like them to have $10,000. You will make monthly deposits into an account that compounds monthly at an APR of 5.8%. How much will you need to deposit every month to make your goal?

Reference no: EM133023024

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