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please solve both parts in 50 minutes Exercise 3 (Weight 3) a) Every year you save by depositing a deposit of NOK 5,000 in a
please solve both parts in 50 minutes
Exercise 3 (Weight 3) a) Every year you save by depositing a deposit of NOK 5,000 in a savings account. You get an interest rate of 2.4% annually. What is the value of the amount saved immediately after the 12th deposit? b) Every year you save by depositing a deposit in a savings account. You get an interest rate of 2.4% annually. What must the annual deposit be for the saved amount immediately after the 12th deposit to be NOK 100,000Step by Step Solution
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