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Jill is wishing to accumulate $16,000 for a renovation in 3 years' time. To do this, she will make 12 deposits (quarterly) with the first

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Jill is wishing to accumulate $16,000 for a renovation in 3 years' time. To do this, she will make 12 deposits (quarterly) with the first deposit today. If she can earn 14.0 % per annum compounding quarterly, what regular deposit will be needed? (round to nearest cent; don't use $ sign or commas)

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