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Bob wants to buy his grandson a Ford Taurus in 4 years. The cost of the car is $28,000. Assuming a bank rate of 4%

Bob wants to buy his grandson a Ford Taurus in 4 years. The cost of the car is $28,000. Assuming a bank rate of 4% compounded quarterly, how much must Bob put in the bank quarterly?

Show me how to do it mathematically and not with a calculator on excel.

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