# Foundations Math 12

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Mark wants to buy a car in 15 months, when he graduates. He estimates the car he wants will cost \$12 500. Mark has just invested \$7500 in a GIC earning 4% compounded quarterly. He also has a savings account that earns 2.45%, compounded monthly. How much should he deposit in his savings account each month to have enough money to buy the car?

• Foundations Math 12 -

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