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I would like to buy a Cessna 1 7 2 Skyhawk single - engine plane for $ 3 1 0 , 0 0 0 .

I would like to buy a Cessna 172 Skyhawk single-engine plane for $310,000. I currently have $103,000 in my savings account and would like to be able to afford the plane in three years. How much do I need to save each month, assuming a 4.8% APR interest rate on my savings (compounded monthly)?

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