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Please provide a clear formulaic method to answer the question. Steve plans to purchase a house and needs to save $350,000 for a down payment

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Please provide a clear formulaic method to answer the question.

Steve plans to purchase a house and needs to save $350,000 for a down payment over the next 5 years. What amount would he need to save monthly if his savings can earn 3.5% compounded semi-annually

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