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4.11. In five years, a person plans to buy a car that is currently valued at $16,000. The expected inflation rate is 3% per year.

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4.11. In five years, a person plans to buy a car that is currently valued at $16,000. The expected inflation rate is 3% per year. How lnuch money should that person invest at the end of each month for 60 months in an account earning 9% compounded monthly so that the balance of the account at the end of the five years covers the cost of the car

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