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Fred and George Weasley are just catching on to muggle magic (i.e., compound interest). They need to save 2000 galleons, or $13,280 in USD, to
Fred and George Weasley are just catching on to muggle magic (i.e., compound interest). They need to save 2000 galleons, or $13,280 in USD, to open their shop Weasleys' Wizard Wheezes in Diagon Alley. They found an American muggle bank that will pay 18% per year on their savings. How much ($) do the twins need to deposit each year if they make their first deposit at the end of their 4th year at Hogwarts, and the last deposit at the end of their 6th year?
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