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How much will he save up

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Problem (a) If Bill intends to save up $20,000 in your account at the end of 6 years, and the compound interest rate is 8% per annum, how much should Bill deposit today?

Problem (b) If Bill deposits $10,000 into a bank account today and invests it for 6 years with interest at 6% p.a. compounding monthly, how much will he save up?

Reference no: EM132918518

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