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1a) Money is invested at 13.73% p.a. compounded monthly for 48 months. What is the numerical value of i ? b) What principal value will

1a) Money is invested at 13.73% p.a. compounded monthly for 48 months.

What is the numerical value of i?

b) What principal value will grow to $2057 if invested for 22 months at 10.10% p.a. compounded monthly? State your answer in dollars ($) with two decimals.

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