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A person wishes to obtain an amount of $120,000 through deposits bimonthly of $4,132.38 in a bank account that pays an interest rate of 9.7%
A person wishes to obtain an amount of $120,000 through deposits bimonthly of $4,132.38 in a bank account that pays an interest rate of 9.7% capitalized every two months. How many deposits are required if the first deposit is made within a two-month period from today?
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