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Arthur's Investment On May 9th 2024, Arthur opens an investment account at Elwood City Bank, and immediately deposits a lump sum (initial deposit). He continues

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Arthur's Investment On May 9th 2024, Arthur opens an investment account at Elwood City Bank, and immediately deposits a lump sum (initial deposit). He continues to make regular deposits thereafter. Arthur''s goal is for his account to reach a certain balance at some future date. Suppose that Arthur's initial deposit is $2000. He makes regular deposits on the 5th of each month. Interest compounds on the 1st and 20th of each month, at an APR of 10%. Arthur would like the account balance to reach $20,000 on January 15th 2026. Determine how much money Arthur should deposit regularly so that he achieves his goal. Round your answer to two decimal places. Suppose that Arthur makes no initial deposit. He makes regular deposits of $1,000 on the 5th of each month. Interest compounds on the last day of each month at an APR of 6%. Arthur would like the account balance to eventually reach $40,000. Determine the month and year on which Arthur will achieve his goal. Your answer must be in the form \"Month, Year."

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