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You plan to buy your dream car when you graduate in 12 months. The cost of the car at that time will be $59,000 .

You plan to buy your "dream car" when you graduate in 12 months. The cost of the car at that time will be $59,000 . How much do you have to invest each month, starting next month, for 29 months to exactly pay for the car if your investments earn 5.00% APR (compounded monthly)?

Calculate your answer to the nearest dollar.

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