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You want to save money to purchase a new home. You plan to invest $1,000 per month for 3 years. Your expected rate of return
You want to save money to purchase a new home. You plan to invest $1,000 per month for 3 years. Your expected rate of return on this monthly investment is 0.75% per month, compounded monthly. How much can you expect to have at the end of the 3-year period?
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