Marcela needs to have 48000 in 8 years on a savings plan, Ask an Expert

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Marcela needs to have $48,000 in 8 years on a savings plan that requires monthly contributions. If she can earn 10 percent APR with monthly compounding on the savings plan, what is the amount that she will have to invest every month for the next 8 years? Round it to two decimal places and do not include the $ sign, e.g., 1234.56.

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