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Sarah Rye has recently started her studies as a B . Com Financial Management student. Once she completes her studies in 3 years from now,
Sarah Rye has recently started her studies as a BCom Financial Management student. Once she completes her studies in years from now, she would like to apply for employment within the financial sector. In preparation for it she decided to buy her own vehicle at the end of the studies would be best. After doing some research, she identified a vehicle she would like to buy. The sales assistant gave her the following purchasing options: Option Purchase the vehicle years from now at R and pay the full purchase price then. Under this option, Sarah will open a savings bank account for herself and make an investment into it today. The applicable interest rate of the savings bank account is per year compounded bimonthly. Calculate the amount Sarah should invest into the savingsbank account today under option
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