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Edward is saving for a long holiday. He deposits a fixed amount every month in a bank account with an EAR of 7.5%. If this

  1. Edward is saving for a long holiday. He deposits a fixed amount every month in a bank account with an EAR of 7.5%. If this account pays interest every month then how much should he save from each monthly paycheck in order to have $10,000 in the account in two years' time?
    A.
    B.
    C.
    D.

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