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Part 1
Use the savings plan formula to answer the following question.
At age 44​, you start saving for retirement. If your investment plan pays an APR of 5​% and you want to have ​$1.2 million when you retire in 21 ​years, how much should you deposit​ monthly?
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Part 1
You should invest ​$???
  
enter your response here each month.
​(Do not round until the final answer. Then round to two decimal places as​ needed.)