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Question One(MCQ): 1-Multiple compounding periods (FV): Normandy Textiles had a cash inflow of 1 million, which it needs for a long-term investment at the end
Question One(MCQ):
1-Multiple compounding periods (FV): Normandy Textiles had a cash inflow of 1 million, which it needs for a long-term investment at the end of one year. It plans to deposit this money in a bank that pays daily interest at 3.75 per cent per year. What will be the value of the investment at the end of the year? (Round to the nearest).
a. 1,211,375
b.1,000,003
C.1,037,500
d.1,038,210
2-
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