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Julieta and Eric are purchasing a home. They wish to save money for 10 years...

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Finance

Julieta and Eric are purchasing a home. They wish to save money for 10 years and purchase a house that has a value of $170,000 with cash. If they deposit money into an account paying 7% interest, compounded monthly, how much do they need to deposit each month in order to make the purchase? Round your answer to the nearest cent, if necessary.

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