You know that your family will have a reunion in 2 years and you need to save for the trip. You estimate that the trip will cost about $2,000 and you have access to an account earning 4% compounded monthly. If you saved for the trip by depositing a constant amount in the account every month, how much would you need to deposit each month in order to save for the trip? How much interest do you earn, all together?

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A: The solution are as follows