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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 12.5%. 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 12.5%. If this account pays interest every month then how much should he save from each monthly paycheck in order to have $13,000 in the account in four years' time? A. $341 B. $170 C. $213 D. $298

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