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Rita is planning ahead for a 3-month world tour to celebrate completing graduate school.The trip's...

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Accounting

Rita is planning ahead for a 3-month world tour to celebrate completing graduate school.The trip's estimated cost is: $ 7,000. Rita would like to accumulate that sum over he next 4 years. She plans to make monthly deposits into her school's minibank which gives 5% interest compounded monthly. How much does she has to contribute monthly ?

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