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Your mother has a great desire to arrange your marriage ceremony after 7 years in a Sonargoan hotel. She is thinking that she will need
Your mother has a great desire to arrange your marriage ceremony after 7 years in a Sonargoan hotel. She is thinking that she will need a huge amount of money to fulfill her wish. To make it easy she would like to deposit Tk. 86,000 at the beginning of each year for the next 7 years. If current interest rate is 6.5% then how much money your mother will have after the specified period when the bank compounded interest quarterly. (NO Excel..Please use the appropriate formulas)
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