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Interest is calculated at 1 3 % per annum. compounded monthly. What is worth more: ( 1 ) R 2 0 0 0 0 now,

Interest is calculated at

13 %

per annum. compounded monthly. What is worth more:

(1)

20 000

now, or R

28 000

three years from now?

(2)

34000

two years ago, or R

65000

three years from now

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