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Seabelo Transport Company decide that they must start saving for a new vehicle in 5 years time. In an account that pays 5.4% p.a. compounded

Seabelo Transport Company decide that they must start saving for a new vehicle in 5 years time. In an account that pays 5.4% p.a. compounded monthly they deposit a one off payment of $20 000 and $500 at the end of each month. How much will they have at the end of 5 years?

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