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If you want to save $55,000 for a down payment on a home in 7 years, assuming an interest rate of 3.5 percent compounded annually,

If you want to save $55,000 for a down payment on a home in 7 years, assuming an interest rate of 3.5

percent compounded annually, how much money do you need to save each month? (Round to the nearest dollar.)

a. $580

B.$599

C.$589

D.$654

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