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Jim Hayes wants to buy some electronic equipment for $800. Jim has decided to save uniform amount at the end of each month so that

Jim Hayes wants to buy some electronic equipment for $800. Jim has decided to save uniform amount at the end of each month so that after 12 months he will have the required $800. If the interest rate is 0.5% per month

(a) Construct a cash flow diagram

(b) determine how much Jim has to deposit each month by using tabulated factors

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