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How much money must be put into a bank account

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Reference no: EM132935059

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Q1. How much money must be put into a bank account yielding 5.5% annually in order to have RM250 at the end of five years?

Q2. If you want to have RM1,700 in seven years, how much money must you put in a savings account today? Assume that the savings account pays 6% and it is compounded quarterly.

Reference no: EM132935059

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