Question: Jane is planning on saving for a car purchase in 8 years, however, she can only contribute to the savings plan over the next

Jane is planning on saving for a car purchase in 8 years, however, she can only contribute to the savings plan over the next 5 years. If she can achieve an after-tax nominal return of 5.20% throughout the entire period until she buys her new car, approximately how much will she need to invest at the end of each month in order to save $25,000?

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