Question: Sofia and Manuel are purchasing a home. They wish to save money for 10 years and purchase a house that has a value of $150,000

Sofia and Manuel are purchasing a home. They wish to save money for 10 years and purchase a house that has a value of $150,000 with cash. If they deposit money into an account paying 5% interest, compounded monthly, how much do they need to deposit each month in order to make the purchase? Round your answer to the nearest cent, if necessary

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