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Mun Ngai has $10 000 that he can deposit into a savings account for 5 years. Bank A pays compound interest annually, Bank B twice
Mun Ngai has $10 000 that he can deposit into a savings account for 5 years. Bank A pays compound interest annually, Bank B twice a year, and Bank C quarterly. Each bank has a stated interest rate of 6 per cent. What amount would Mun have at the end of the fifth year if he left all the interest paid on the deposit in each bank>
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