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Suppose you deposit RM5,000 into an account earnings 4 percent-(Answered)

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Suppose you deposit RM5,000 into an account earnings 4 percent interest, compounded monthly.

? ?a) Suppose in addition to the initial RM5,000 deposit, you will make monthly contributions of RM50. How many years will it take for the account to grow to RM7,500 in this case?

 

Paper#9257302 | Written in 27-Jul-2016

Price : $16
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