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Judith decides to save some money to discharge a loan of R500 000 six years from now, using the sinking fund method. The interest on

Judith decides to save some money to discharge a loan of R500 000 six years from now, using the sinking fund method. The interest on the loan is 15,6% per year, paid quarterly. The sinking fund will earn interest at a rate of 8,4% per year compounded monthly. The monthly deposit into sinking fund is

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