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Feebee has an investment opportunity with Bank ABC. Interest is calculated at 8 % p . a . compounded semi - annually for the first

Feebee has an investment opportunity with Bank ABC. Interest is calculated at

8 %

.

.

compounded semi

-

annually for the first three years, where after the interest rate will increase by

1 %

.

.

compounded quarterly for the remainder of the term. What amount must Feebee invest today to receive R

15 000

5

years time?

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