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Alice wants to purchase a minivan for her family. The dealership offers 0% financing for 60 months. The cost is 28500 plus tax. The total
Alice wants to purchase a minivan for her family. The dealership offers 0% financing for 60 months. The cost is 28500 plus tax. The total cost is divided into equal payments for 60 months with the first payment paid at the end of the first month. She decides to invest an amount to provide the needed monthly payment. How much must Alice invest at 6% per year , compounded monthly, to have monthly van payment?
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