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Russell wants to give his daughter $50,000 in 4 years to start her own business. He currently has $5,000 invested and earmarked for this goal.

Russell wants to give his daughter $50,000 in 4 years to start her own business. He currently has $5,000 invested and earmarked for this goal. How much more should he invest at the end of each month with an annual interest rate of 8% to have $50,000 in 4 years?

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