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Deposits are to be made to a savings account which attracts an annual interest rate of 10%. At present, $1,000 is deposited. Every year after

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Deposits are to be made to a savings account which attracts an annual interest rate of 10%. At present, $1,000 is deposited. Every year after for the next 9 years, $2,000 will be banked. Considering the information given, a) Draw the cash flow diagram (3 Marks) b) What will be the balance at the end of 10 years? (7 Marks)

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