Question: You wish to save $ 3 0 , 0 0 0 by making $ 2 0 0 0 deposits at the end of each month.

You wish to save $30,000 by making $2000 deposits at the end of each month. If the bank pays 3% compounded monthly, then how many full deposits are needed and what is the amount of the smaller concluding deposit at the end of the next month?

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