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Suppose you want to have $500,000 by the end of 7 years. You decide to deposit an equal amount of money each month (starting next

Suppose you want to have $500,000 by the end of 7 years. You decide to deposit an equal amount of money each month (starting next month) into a bank account that advertises a nominal rate of 4% compounded monthly. How much should you deposit each month?

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