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City Bank offers a saving scheme with an option to select your own investment period. Jones has $18,600 for his investment. If the bank
City Bank offers a saving scheme with an option to select your own investment period. Jones has $18,600 for his investment. If the bank is offering a 12.5% interest rate per annum compounded semi-annually, how much will the investment be worth at maturity if Jones picks a five-year investment period? Show your working clearly and provide your answer to 2 decimal places.
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Financial Management Core Concepts
Authors: Raymond M Brooks
2nd edition
132671034, 978-0132671033
