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Ken wants to make the following deposits into his savings account. $X in 1 year, $2,500 in 2 years and $3,500 in 3 years. He
Ken wants to make the following deposits into his savings account. $X in 1 year, $2,500 in 2 years and $3,500 in 3 years. He wants to have $10,000 in 5 years. The interest rate is 5.4% p.a. compounded halfyearly. Calculate $X Ken needs to deposit. (Round your answer to the nearest cent.) (3 marks) write in formulas
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