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At your child's birth, you begin contributing monthly to a college fund. The fund pays an APR of 4.5% compounded monthly. You figure your child

At your child's birth, you begin contributing monthly to a college fund. The fund pays an APR of 4.5% compounded monthly. You figure your child will need $50,000 at age 18 to begin college.

What monthly deposit is required? (Round your answer to the nearest cent.)

--------$per month

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