Question: You are going to save $ 2 0 0 each month for 3 years so that you can put a down payment on a new

You are going to save $200 each month for 3 years so that you can put a down payment on a new car. If the compound interest rate on your account is 0.25% per month, what is the largest down payment you can make at the end of 3 years (immediately after the last deposit)?

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