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At your child's birth, you begin contributing monthly to a college fund. The fund pays an APR of 4.9% 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 4.9% compounded monthly. You figure your child will need $20,000 at age 18 to begin college.

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

$ ___ Per Month?

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