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March 25, 2017

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Mrs wong wants to invest $50000 for 3 years.
Simple interest of 5% p.a. for the first year, and then interest compounded monthly at 3% p.a. in every subsequent year. Find the amount she will receive.

  • Math!!! - ,

    50000(1+5/100)[1+(3/12)/100]^(2*12)

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