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Suppose that you want to buy a car 3 years from now, and you estimate a payment of 400,000 will be required at that time.

Suppose that you want to buy a car 3 years from now, and you estimate a payment of 400,000 will be required at that time. If interest rate is j2 = 8 percent, determine the end of each period deposit necessary to accumulate $400,000?

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