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  • 24-05-2023
  • Mathematics
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George wishes to withdraw $1 000 at the end of each month for 5 years, starting one month from now. The plan pays 4% annual interest, compounded monthly. a. How much will he need to pay into the investment today to support this plan? (3 marks) b. How much interest is paid during the 5 years? (3 marks)

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