Short Answer
Jason has just started his first job. His dream in life is to own a cherry red corvette ten years from today. He is prepared to save. If a Corvette costs $80,000 today and the price is expected to increase 4% per year over the next ten years, how much will he need to deposit at the beginning of each month for the next 10 years to buy the Corvette if he can earn 8% interest compounded monthly on his deposit?
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