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Show ALL workings. Marks may be deducted for loss of clarity of expression and neatness of presentation. Question 5 Peter deposits $10,000 at the end

Show ALL workings. Marks may be deducted for loss of clarity of expression and neatness of presentation.

Question 5

Peter deposits $10,000 at the end of each year for 8 years in a savings account that pays 1% interest per year. How much will he have at the end of year 8?

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