Question: Matilda is saving for a holiday in two years' time. She currently has $2,000 in her bank account, which pays interest at 4.8% p.a. with

Matilda is saving for a holiday in two years' time. She currently has $2,000 in her bank account, which pays interest at 4.8% p.a. with monthly compounding. How much should she deposit in here account at the end of each month, for the next two years, if her holiday will cost $12,000?

Group of answer choices

$389.82

$477.38

$397.82

$398.90

None of the other answers is correct

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