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On the birth of their first grandchild, the Smiths set up a $10,000 fixed-ferm deposit that paid interest 8% per annum compounded quarterly. How much

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On the birth of their first grandchild, the Smiths set up a $10,000 fixed-ferm deposit that paid interest 8% per annum compounded quarterly. How much did their grandchild receive upon maturity of this term deposit on her 20th birthday? 52,542 50,274 42,638 48.754

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