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In 3 years from now you want to buy a new car. You expect the price of the car of your dreams to be $

In 3 years from now you want to buy a new car. You expect the price of the car of your dreams to be $55,000(price
in 3 years). How big are your equal monthly contributions to your savings account if you want to have enough
money saved to buy that car in 3 years? Assume you start saving in two months from today and make your last
contribution in 3 years (i.e., monthly payments at t =2,3,4,...,36). Assume an APR of 6%, monthly compounded.

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