Ms. Parker would like to have $48,000 to buy a car in 5 years. To accumulate $48,000 in 5 years, how much should she invest monthly in a sinking fund with 9% interest compounded monthly?

The monthly invested payment is?

(Round the final answer to the nearest cents as needed. Round all intermediate values to six decimal places as needed.)

The monthly invested payment is?

(Round the final answer to the nearest cents as needed. Round all intermediate values to six decimal places as needed.)

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