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Soni Truck compnany wishes to accumulate a fund of $280,000 during the next 18 months in order to open at a second location. At the
Soni Truck compnany wishes to accumulate a fund of $280,000 during the next 18 months in order to open at a second location. At the end of each month, a fixed amount will be invested in a money market savings account with an investment dealer. The planning assumption is that the account will earn 5.6% compounded monthly. What should the monthly investment be in order to reach the savings objective
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