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You estimate you can save $150 per month for a down payment on a car. You...

  1. You estimate you can save $150 per month for a down payment on a car. You hope to purchase the car in 24 months. You invest this in an account that pays 6% compounded monthly.

    1. How much will you have in the account at the end of 24 months?

    2. How much more would you have at the end of 24 months if you deposited $200 per month?

    3. What would you need to deposit to have $8,000 available for a down payment?

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