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Jack wants to accumulate $20,000 for a motor-bike in 6 years' time. To do this, he will make 24 level deposits (quarterly) with the first

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Jack wants to accumulate $20,000 for a motor-bike in 6 years' time. To do this, he will make 24 level deposits (quarterly) with the first deposit today. If he earns 4.2% per annum compounding quarterly, what regular deposit will be needed? (round to nearest cent; don't use $ sign or commas) a. $2879.19 b. $1482.83 O c. $737.08 O d. $729.42

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