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Sirajuddin wants to buy a property worth RM10,000,000 now. However, he feels that the value of the property will decline by 5% every year for
Sirajuddin wants to buy a property worth RM10,000,000 now. However, he feels that the value of the property willdeclineby 5% every year for the next 9 years. He wants to invest his money in an offshore account every 6 months at thebeginningof each period at a rate of 10% annually. How much must he allocate every 6 months so that he has enough money to buy the property in the 9thyear?
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