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y ou start saving monthly for your child in order to accumulate 10,000 dollars once the child is 18 (imagine, the child was just born).

you start saving monthly for your child in order to accumulate 10,000 dollars once the child is 18 (imagine, the child was just born). How much you must put aside every month, if yearly interest rate is 3%? Please explain the formula step by step.

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