Question: You want to save up for a down payment on a house. You plan to buy the house in 10 years and need to save

You want to save up for a down payment on a house. You plan to buy the house in 10 years and need to save $50,000 for the down payment. You decide to invest in an annuity that pays an interest rate of 6% compounded monthly. How much should you deposit each month into the annuity to achieve your goal?

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