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5. The following transactions occurred in a bank account during the year at 4% p.a. simple interest. DepositsWithdrawals Date 15 Feb. 7 May 23 May

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5. The following transactions occurred in a bank account during the year at 4% p.a. simple interest. DepositsWithdrawals Date 15 Feb. 7 May 23 May 12 Nov. 23 Dec. $400 $200 $300 $100 $500 Calculate the interest due on 31 December, based on the account balance on the 10 day of each month

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