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Your brother would like to have $24,000 in 3 years for the purchase of a...

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Accounting

Your brother would like to have $24,000 in 3 years for the purchase of a new car. What monthly payment should he make into an account paying 8% per year compounded monthly to attain his goal?

a) $572.07

b) $622.07

c) $552.07

d) $592.07

e) $582.07

f) None of the above.

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