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You want to purchase a new car in 9 years and expect the car to cost $43,000. Your bank offers a plan with a
You want to purchase a new car in 9 years and expect the car to cost $43,000. Your bank offers a plan with a guaranteed APR of 6.5% if you make regular monthly deposits. How much should you K deposit each month to end up with $43,000 in 9 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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