[Solved] A bank is offering a five-year term depos

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A bank is offering a five-year term deposit that will pay 9% per annum compounded quarterly. If $180 000 was invested in this term deposit:

(6 marks)

(3 marks) (5 marks)

21/05

i. ii.

how much money will you have at the end of four years? what is the EAR?

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