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Question 1 Pedro has a tax free savings account TFSA with a balance of 5000 00 Interest is earned at a rate of 4 00

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Question 1 Pedro has a tax free savings account TFSA with a balance of 5000 00 Interest is earned at a rate of 4 00 compounded monthly If Pedro contributes 400 00 to the TFSA at the end of every month how long will it take him to save 20 000 00 Show your work 2 marks

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