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(b) A 15-month fixed deposit offers an annualized interest rate of 2.30% and requires a minimum deposit of RM25,000. Assumes interest will be reinvested after
(b) A 15-month fixed deposit offers an annualized interest rate of 2.30% and requires a minimum deposit of RM25,000. Assumes interest will be reinvested after 12 months period. Compute the total amount of interest that will be earned on this investment. (3 marks)
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