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Posted on Sep 09, 2024

You want to purchase a new car in 4 years and expect the car to cost $ 6 4 0 0 0 . Your bank

You want to purchase a new car in

4

years and expect the car to cost $

64000 .

Your bank offers a plan with a guaranteed APR of

6.5 %

if you make regular monthly deposits. How much should you deposit each month to end up with $

64000

4

years?

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