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Use the savings plan formula to answer the following question. Your goal is to create a college fund for your child. Suppose you find a

Use the savings plan formula to answer the following question.

Your goal is to create a college fund for your child. Suppose you find a fund that offers an APR of 5 %

5%. How much should you deposit monthly to accumulate $82 comma 000

82,000 in 12

12 years?

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