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(4) You wish to have $3000 in 2 years for a vacation. (a) How much would you need to deposit every two weeks into an

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(4) You wish to have $3000 in 2 years for a vacation. (a) How much would you need to deposit every two weeks into an account paying 5% in order to reach this goal? How much of the money saved is interest? (b) Suppose instead you decide to make a lump sum deposit now into an account paying 5%. How much would you need to deposit today to reach this goal? How much of the money saved is interest? (c) Which method of saving money would you prefer and why

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