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How much should mary jane invest at the beginning

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Question - Mary Jane a financial analyst, would like to have PhP20,000 saved in his bank account at the end of 5 years. The bank offers a return of 10% per annum compounded semi-annually.

How much should Mary Jane invest at the beginning so as to attain his goal?

What is the EAR of her savings?

Under what condition does the Annual Effective Rate (EAR) differ from the Actual Percentage Rate?

Reference no: EM133147346

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