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Suppose Freddy wants to withdraw R25 000 after five years (at the end) and withdraw R30 000 after six years (at the end), leaving a
Suppose Freddy wants to withdraw R25 000 after five years (at the end) and withdraw R30 000 after six years (at the end), leaving a zero balance in his Absa Money Builder account after the last withdrawal. If he can earn 10% (nominal) per year on his balance (payable semi-annually), how much should he deposit today to satisfy his withdrawal needs?
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