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When entering university, Ranjit's father invested RM 50000 at 8% compounded quarterly for him now. Ranjit will withdraw the same amount every month for four

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When entering university, Ranjit's father invested RM 50000 at 8% compounded quarterly for him now. Ranjit will withdraw the same amount every month for four years starting from the end of first month. How much is the withdrawal amount? (8 marks) (CLO3:PLO6:C3)(CLO3:PLO7:C3)

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