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14. When you were born, your dear Aunt Muna promised to deposit OMR 700 into a savings account bearing a 5% compounded annual rate on
14. When you were born, your dear Aunt Muna promised to deposit OMR 700 into a savings account bearing a 5% compounded annual rate on each birthday, beginning with your first. You have just tumed 21 and want the money. However, it turns out that dear (forgetful) Aunt Muna made no deposits on your fifth and eleventh birthdays. How much is in the account right now
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International Financial Management
Authors: Cheol S. Eun, Bruce G.Resnick
6th Edition
71316973, 978-0071316972, 78034655, 978-0078034657
