Suppose you want to save in order to purchase a new boat. Take the APR to be
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Question:
Suppose you want to save in order to purchase a new boat. Take the APR to be 4.8%. You want to have $13,000 toward the purchase of a boat in three years. How much do you need to deposit eachmonth?
(Round your answer to the nearestcent.)
You will need to deposit $ eachmonth.
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