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What monthly deposit must you make into a savings account

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What is the value today of $800 per month forever, with the first $800 payment occurring three months from today. Interest rates are 5% p.a. compounded monthly.

Your goal is to accumulate $60,000 in nine years' time. What monthly deposit must you make into a savings account to reach your goal? Interest rates are 12% p.a. compounded monthly.

Reference no: EM132366814

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