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Kevin wants to save up $30,000 in an annuity earning 4.75% compounded annually so that he can pay cash for a new car that he

  1. Kevin wants to save up $30,000 in an annuity earning 4.75% compounded annually so that he can pay cash for a new car that he will buy in three years' time. What is the difference in his monthly contributions if he starts today instead of one month from now?

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