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Kurt wants to invest 2000 Euros in a savings account for his new grandson. (a) Calculate the value of Kurt's investment based on a simple
Kurt wants to invest 2000 Euros in a savings account for his new grandson. (a) Calculate the value of Kurt's investment based on a simple interest rate of 4% per annum, after 18 years. Inge tells Kurt about a better account which offers interest at a rate of 3.6% per annum, compounding monthly. (b) Giving your answer to the nearest Euro, calculate the value of Kurt's investment after 18 years if he follows Inge's advice
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