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Need solutions and explanations on how to solve. thank you. its urgent. 1. In a Entrepreneurship competition held by Stanford University during the Movement Control

image text in transcribed Need solutions and explanations on how to solve. thank you. its urgent.

1. In a Entrepreneurship competition held by Stanford University during the Movement Control Order (MCO) period in year 2020, Sara and her team managed to win a grand prize award of $ 11,500. After discussion with her team, they decided to put their money in separate accounts namely Wells Fargo Bank fixed deposit, Sroley Insurance trust fund and Stashaway a. The Wells Fargo Bank fixed deposit rate is 930% per annum, while Croley Insurance trust fund and Stashaway rate are 920% per annum and 800% per annum, respectively. The team also have decided to put $2400 inside the Wells Fargo Bank fixed deposit. Based on the information given, use any of the accounts to invest $11,500 with the chosen expected profit within $97,000 to $100,000. All mathematical expressions used must be shown clearly. [25 marks]

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