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You want to accumulate $250,000 in twenty years. If you can earn 12% interest per year, compounded monthly, how much must you deposit at the

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You want to accumulate $250,000 in twenty years. If you can earn 12% interest per year, compounded monthly, how much must you deposit at the beginning of each month in order to accomplish this (round to the nearest dollar)? (a) 253 (b) $22,951. (c) 250. (d) 3,098. 18

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