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Posted: **Mon Nov 15, 2021 11:05 am**

: 7 George Wants To Buy A Car In Order To Accumulate Money For A Down Payment He Decides To Save 200 Per Month At 5 A 1 (20.89 KiB) Viewed 84 times

7. George wants to buy a car. In order to accumulate money for a down payment, he decides to save $200 per month at 5% annual interest rate compounded monthly. How much money will Paul have for his down payment at the end of the first year?