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Abdullah wants to buy a car in 6 years. His dream car costs AED 300,000 today and car prices are expected to increase at a

Abdullah wants to buy a car in 6 years. His dream car costs AED 300,000 today and car prices are expected to increase at a rate of 15% per year for the next 6 years. Calculate the amount that he needs to save on a monthly basis to buy his dream car in 5 years, if he can earn a 12% interest compounded monthly on his savings account.

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