Question: You expect that you will need to replace your furnace in 5 years at a cost of $15,725. How much must you save, each month

You expect that you will need to replace your furnace in 5 years at a cost of $15,725. How much must you save, each month for 32 months, starting next month (the same amount each month) if your savings account pays 2.41% APR (compounded monthly)?

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