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Justin is a university student. He currently has $2,000 in a savings account paying 3 per cent p.a. compounding daily. Justin plans to use his
Justin is a university student. He currently has $2,000 in a savings account paying 3 per cent p.a. compounding daily. Justin plans to use his current savings plus what he can save in 4 equal year-end deposits to his account over the next 4 years, to buy a bike. He estimates that the bike will cost him $8,000 in 4 years. How much money should Justin deposit to his account each year-end if he wants to buy the car
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