Jo and Kim want to set aside some money for a down payment on a new car.
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Jo and Kim want to set aside some money for a down payment on a new car. They have 6 years to let the money grow. If they want to make a \(\$ 15,000\) down payment on the car, how much should they deposit now in an account that earns \(4.36 \%\) interest compounded monthly?
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