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Evelyn wishes to have exactly $150,000 to purchase a new house in two years' time....

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Question

Finance

Evelyn wishes to have exactly $150,000 to purchase a new house in two years' time. How much must she save today to reach this objective if the interest rate is 7% p.a. compounded monthly?

A. $132,780.15

B. $131,015.81

C. $130,456.79

D. $133,947.34

E. $134,651.94

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