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(7 Marks) #12. Samantha will need $24'500 in 3 years time for her vacation. How much does she need to invest today at 4.8%

(7 Marks) #12. Samantha will need $24'500 in 3 years time for her vacation. How much does she need to invest today at 4.8% per year compounded quarterly, to achieve this? (3 Marks) # 13. Paco wants to set up an investment that will pay him $1'200 each month for the next 5 years. If the interest rate per year is 6% compounded monthly, determine the necessary investment. TOTAL 92 MARKS (3 Marks)

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