Question: Use the savings plan formula to answer the following question Your goal is to create a college fund for your child. Suppose you find

Use the savings plan formula to answer the following question Your goal is to create a college fund for your child. Suppose you find a fund that offers an APR of 6%. How much should you deposit monthly to accumulate $86,000 in 16 years? You should invest $ each month (Do not round until the final answer. Then round to two decimal places as needed.)

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