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You project that you will need $50,000 in 9 years to put a down payment on a home on a conventional mortgage program. You plan
You project that you will need $50,000 in 9 years to put a down payment on a home on a conventional mortgage program. You plan to save for this by putting money away monthly and expect to earn a 6% APY (annual percentage yield) on your money. How much do you need to save monthly? Round to the nearest penny.
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