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You plan to accumulate $22,000 for a car in 4 years time. To do this, you will make 16 level deposits (quarterly) with the first

You plan to accumulate $22,000 for a car in 4 years time. To do this, you will make 16 level deposits (quarterly) with the first deposit today. If you earn 12.3% per annum compounding quarterly, what regular deposit will be needed?

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