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3 Ambiga invests $8,000 in a bank offering interest at a rate of 4.6% per annum compounded monthly. (a) Calculate the amount of money Ambiga

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3 Ambiga invests $8,000 in a bank offering interest at a rate of 4.6% per annum compounded monthly. (a) Calculate the amount of money Ambiga has in the bank after seven years. (b) Calculate how long (in years) it will take for her money to double. (2dp)

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