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8. To create a fund for the purchase of a brand new car, Frances will make equal monthly deposits to a bank that pays [3%,

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8. To create a fund for the purchase of a brand new car, Frances will make equal monthly deposits to a bank that pays [3%, m = 12] for 5 years. If she intends to buy a car that will cost her Php 800,000, how much should she deposit monthly to the bank

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