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a person is planning to open a savings account with the intent to buy a house in 5 years. They will invest an equal amount
a person is planning to open a savings account with the intent to buy a house in 5 years. They will invest an equal amount each month for 5 years. This account will earn 6% per year(.5% per month)and will have $300,000 at the end of 5 year term. What is the amount of the monthly investment?
A. 4169
B. 4435
C. 4300
D. 5296
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