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Please answer question with correct answer thank you. Fred plans to buy a condominium in 5 years and wants to save $50,000 for the down

image text in transcribedPlease answer question with correct answer thank you.

Fred plans to buy a condominium in 5 years and wants to save $50,000 for the down payment. He assumes that he can earn 6.5% per year on his investments. He is starting with no money saved for this goal. How much does he need to save per month to achieve his goal? O A. $978.30 OB. $707.47 OC. $887.50 OD. $8,781.73 O E. $833.33

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