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Howard is saving for a long holiday. He deposits a fixed amount every month in a bank account with an EAR of 10.7%. If this

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Howard is saving for a long holiday. He deposits a fixed amount every month in a bank account with an EAR of 10.7%. If this account pays interest every month then how much should he save from each monthly paycheck in order to have $11,000 in the account in two years' time? A. $415 B. $664 C. $581 D. $332

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