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A good friend of yours received $5000 from his Grandparents when he finished grade 10. He wants to invest it for two years and then use it to travel when he finishes grade 12. If he invests his money at 3.75% compounded semi annually, how much money will he have for his travels?

 Aug 9, 2022
 #1
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So he investes it for   0.0375/2    for 4 time periods.

 

It is just compouund interestf

 

Future value = a(1+r)^n

 Aug 11, 2022

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