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b) You have savings of $25,000 that you intend to invest in a five year term deposit with a fixed interest rate of 7.5% calculated
b) You have savings of $25,000 that you intend to invest in a five year term deposit with a fixed interest rate of 7.5% calculated at the end of each year. Your bank offers you three other choices: (i) $30,000 in five years (ii) $6,000 at the end of each of the next five years (iii) $30,000 now Which investment would you choose? Carefully explain your answer and include financial justification
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