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A man decides to save $1,500 at the beginning of every month for the next five years as a safety net for recessionary periods. The
A man decides to save $1,500 at the beginning of every month for the next five years as a safety net for recessionary periods. The money will be set aside in a separate savings account which pays 4.5% interest compounded monthly. The first deposit will be made today. After five years, how much will be in this mans safety net fund? Round your answer to the nearest dollar.
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