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Mr. Franklin wants to save for a new sports car that he expects will cost $38,000 four and one-half years from now. How much money

Mr. Franklin wants to save for a new sports car that he expects will cost $38,000 four and one-half years from now. How much money will he have to save each year and deposit in a savings account that pays 6% per year, compounded annually, to buy the car in four and one-half years?

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