John got a part time weekend job at a local restaurant to save for a new car. He plans on depositing $120 per month for the next 4 years in a savings account with a rate of 4% per year compounded monthly. How much will he have saved toward his down payment at the end of the 4 year period?
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Home » Business » John got a part time weekend job at a local restaurant to save for a new car. He plans on depositing $120 per month for the next 4 years in a savings account with a rate of 4% per year compounded monthly.