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How much would your parents have to deposit each month into an account that grows at...

How much would your parents have to deposit each month into an account that grows at a rate of 8% per year compounded bi-monthly (compounded once in two months) if they want to have $60,000 at the end of year 4 to cover part of your college expenses? Assume no interperiod compounding.

Parents have to deposit $? each month.

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