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At the end of 5 years from now, your friend wants to have $ 2 2 5 , 0 0 0 saved for a down

At the end of

5

years from now, your friend wants to have $

225, 000

saved for a down payment on a house. He expects to earn

5 %

compounded monthly

on his investments over the next

5

years. How much would your friend have to put in his investment account each month to reach his goal? USING SCIENTIFIC CALCULATOR ONLY

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