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You want to purchase a new car in 6 years and expect the car to cost 70,000 . Your bank offers a plan with a

You want to purchase a new car in

6 years and expect the car to cost

70,000. Your bank offers a plan with a guaranteed APR of 5.5 %

5.5% if you make regular monthly deposits. How much should you deposit each month to end up with

70,000 in

6 years?

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