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What is the smallest value of q that will suffice

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Stuart wishes to have $14,000 to buy a used car three years from now. He plans to accomplish this, through an account with a nominal interest rate of 3% compouned monthly, by depositing $300 at the end of each month during the first year, and Q at the end of each month during the second two years. What is the smallest Q that will suffice?

Reference no: EM13858728

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