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Howard is saving for a long holiday. He deposits a fixed amount every month in...

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Accounting

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Howard is saving for a long holiday. He deposits a fixed amount every month in a bank account with an EAR of 6.1%. If this account pays interest every month then how much should he save from each monthly paycheck in order to have $8,000 in the account in five years' time? O A $115 B. $184 C. $161 OD. $92

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