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Anthony Carmelo would like to save up to attend graduate school. He thinks that he will need $20,000 when he starts. He has a savings

Anthony Carmelo would like to save up to attend graduate school. He thinks that he will need $20,000 when he starts. He has a savings account paying 3% annual interest (compounded monthly) and would like to start in 3 years. How much will he need to save each month? (6 points)

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