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Al Shneider has promised his nephew Cletus that he will be paying the following cash at the end of every year into a trust fund

Al Shneider has promised his nephew Cletus that he will be paying the following cash at the end of every year into a trust fund as his legacy to him. If the fund pays 7% per annum. How much will be in the account at end of year five? (6 marks) Year Cash flows 1. 20,000 2. 30,000 3. 40,000 4. 50,000 5. 60,000

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