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Barry wishes to save $10,000 for a holiday in 2 years time. Twenty-four equal monthly deposits will be made into an account, the first deposit
Barry wishes to save $10,000 for a holiday in 2 years time. Twenty-four equal monthly deposits will be made into an account, the first deposit being made immediately. The account earns interest at 7%p.a compounding monthly. What is the size of his monthly deposit?
Select one:
a. $387.13
b. $358.96
c. $320.12
d. $333.21
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