Question: Sofia and Manuel are purchasing a home. They wish to save money for 12 years and purchase a house that has a value of $190,000

Sofia and Manuel are purchasing a home. They wish to save money for 12 years and purchase a house that has a value of $190,000 with cash. If they deposit money into an account paying 5 % interest how much do they need to deposit each month in order to make the purchase? Round your answer to the nearest cent if necessary. Formulas

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