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OpenStudy (anonymous):
A newlywed couple is planning to buy a house in 3 years. They need a $ 30 000 downpayment for their house. If they deposit the same amount of money at the end of each month in an account that pays 6%/a, compounded monthly, how much should they deposit each month to meet their goal?
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OpenStudy (anonymous):
6%/a?
OpenStudy (anonymous):
6% compounded annually which means 0.06/12
OpenStudy (anonymous):
nvm i found the answer :D
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