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How to solve John is saving to buy a new car, 4 years from now. His bank quotes him a 6 % annual interest rate
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John is saving to buy a new car, years from now. His bank quotes him a annual interest rate if he will add a new money deposit at the end of every month for the next years, the same dollar amount each month. John's goal is to have $ in in his bank account at the end of the years. What dollar amount must he deposit each month to achieve his goal? Show your work.
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