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You need to save $50,000 for a home purchase 60 months from now. Assuming monthly compounding and a 6.5% return, how much money do you

You need to save $50,000 for a home purchase 60 months from now. Assuming monthly compounding and a 6.5% return, how much money do you need to save each month?

a. $707 b. $8,781 c. $76 d. $833

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