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The car you want requires a down payment of $4,500. To save up for the down payment, you invest $1,675 into an account that pays
The car you want requires a down payment of $4,500. To save up for the down payment, you invest $1,675 into an account that pays 1.35% interest compounded monthly. If you want to have enough money in 2 years to make this down payment, how much money will you need to deposit each month?
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