The City of Oshawa wants to accumulate $2,000,000 in a savings account by the end of ten
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The City of Oshawa wants to accumulate $2,000,000 in a savings account by the end of ten years. It will be making deposits at the end of every three months and will increase the deposit amount by 3% every three months. If the account earns 6% compounded semi-annually, what is the size of the first deposit?
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Related Book For
Mathematics Of Business And Finance
ISBN: 9781927737545
4th Edition
Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans
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