Multiple Choice
Howard is saving for a holiday. He deposits a fixed amount every month in a bank account with an EAR of 14.7%. If this account pays interest every month then how much should he save from each monthly paycheck in order to have $14,000 in the account in four years' time?
A) $176
B) $308
C) $220
D) $352
Correct Answer:
Verified
Correct Answer:
Verified
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