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Mr. Holdon cooper loves jeomic books. He has recently received a large sum of monoy and wants to engure that ho. always thas some money

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Mr. Holdon cooper loves jeomic books. He has recently received a large sum of monoy and wants to engure that ho. always thas some money to spend on eomic books for his entire life. He has estimated that he Wil need E600 next year for this. However as the price of eomic books keeps on Increasing, this roguired amount should also grow by 3% every year. If the ourrent interest rate is 6%, how much money does he need to invest to onsure that he can spend the desired amount for evor? {6,666,67 [20,000 512,560.50 10,000

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