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On May 1, 1950, M deposited R100 in the savings account which pays 3% p.a. compounded semi-annually and continued to make similar deposits every six

On May 1, 1950, M deposited R100 in the savings account which pays 3% p.a. compounded semi-annually and continued to make similar deposits every six months thereafter. After May 1, 1962, the bank paid 4% p.a. compounded semi-annually. How much will be to his credit just after the deposit on November 1, 1970

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