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You want to buy a car without going into debt. You are budgeting $60,665 for the purchase price and you want to make the purchase

You want to buy a car without going into debt. You are budgeting $60,665 for the purchase price and you want to make the purchase in 7 years. You think you can earn 8.07% per year on any savings you generate between now and the car purchase. How much will you have to deposit at the end of each month in order for you to be able to pay cash for that car in 7 years?

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