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Thinking 1. Francis hopes to retire at age 65 with $300 000 in his account. He plans to make equal monthly deposits, at the end

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Thinking 1. Francis hopes to retire at age 65 with $300 000 in his account. He plans to make equal monthly deposits, at the end of each month in an account that has an interest rate of 7% compounded monthly. He is currently 18. What must be his monthly deposit? [5 marks]

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