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If 400,000 is to be saved over 9 years, how much should be deposited monthly if the investment earns 8% interest compounded monthly? Round to

If 400,000 is to be saved over 9 years, how much should be deposited monthly if the investment earns 8% interest compounded monthly? Round to the nearest cent.

a. 2,035.7

b. 2,267.90

c. 1,836.21

d.2,540.82

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