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You want to purchase a new car in 7 years and expect the car to cost $46,000. Your bank offers a plan with a guaranteed
You want to purchase a new car in 7 years and expect the car to cost $46,000. 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 $46,000 in 7 years?
You should invest $---- each month. (Round the final answer to the nearest cent as needed. Round all intermediate values to seven decimal places as needed.)
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