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You planned to go for a holiday 2 years from now. The cost of your holiday is $12,000 now and the cost of will increased

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You planned to go for a holiday 2 years from now. The cost of your holiday is $12,000 now and the cost of will increased by 6% per annum. To pay for your holiday, you will need to save a monthly amount for the next 2 years in a bank account that pays 5 percent interest per annum. How much do you need to save monthly

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