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You are the winner of a lottery that pays a quarterly cash payment of $5000 to you for the next 5 years. You decide that
You are the winner of a lottery that pays a quarterly cash payment of $5000 to you for the next 5 years. You decide that the funds should be paid directly into a cash
management trust held with an investment bank. The account is expected to earn 5 per cent per annum, compounded quarterly. What will be the accumulated value of the cash management trust at the end of the 5 years? Show your working.
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