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Posted on May 19, 2024

Michelle wants to have a $ 2 0 , 0 0 0 down payment when she buys a new car in 6 years. How much

Michelle wants to have a $

20, 000

down payment when she buys a new car in

6

years. How much money must she deposit at the end of each quarter in an account paying

3.2 %

compounded quarterly so that she will have the down payment she desires?

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