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5. (6 marks) Suppose that SR is deposited into an annuity at the end of each month and that interest rate is 8.4% per annum

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5. (6 marks) Suppose that SR is deposited into an annuity at the end of each month and that interest rate is 8.4% per annum compounded monthly. Let represent the smallest whole number of years that it will take for the future value of the annuity to reach an amount of $500R. Find the value of N

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