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Safwan wants to withdraw $20,000 from his bank account in 7 years. The bank charges interest at 8% p.a. compounded quarterly for the first 3
Safwan wants to withdraw $20,000 from his bank account in 7 years. The bank charges interest at 8% p.a. compounded quarterly for the first 3 years and 12% p.a. compounded monthly thereafter. How much should Safwan deposit today into his bank account? Round your answer to the nearest cent. (3 marks)
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American Commerce And Finance
Authors: Henry Rand Hatfield
1st Edition
1176176927, 9781176176928
