Jessica wants to accumulate 15000 by the end of 6 years in

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Jessica wants to accumulate $15,000 by the end of 6 years in a special bank account, which she had opened for this purpose. To achieve this goal, Jessica plans to deposit a fixed sum of money into the account at the end of the month over the 6-year period. If the bank pays interest at the rate of 7% per year compounded monthly, how much does she have to deposit each month into her account?

Reference no: EM13623130

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