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.