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Offshore Financial Center
It is a location with banking facilities to accept deposits and make loans in currencies various from the currency's country of origin. Banks located in offshore financial centers are exempt from the bank's home country banking regulations. All off- shore financial centers, including those in the United States, offer tax preferences-commonly, but not always, in the form of tax-free remittances of earnings to an offshore parent organization.
where you deposit 1000dollars at the end of each year for 4 years, what will be the amount of deposits at the end of each year if it is compounded at 12% semi-annually?
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