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Matilda is saving for a holiday in two years' time. She currently has $2,000 in her bank account, which pays interest at 4.8% p.a. with
Matilda is saving for a holiday in two years' time. She currently has $2,000 in her bank account, which pays interest at 4.8% p.a. with monthly compounding. How much should she deposit in here account at the end of each month, for the next two years, if her holiday will cost $12,000?
Group of answer choices
$389.82
$477.38
$397.82
$398.90
None of the other answers is correct
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