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Accumulated value of the cash management

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You are the winner of a lottery that pays a quarterly cash payment of $5000 to youfor the next 5years. You decide that the funds should be paid directly into a cash management trust held with an investment bank. The account is expected to earn5per cent per annum, compounded quarterly. What will be the accumulated value of the cash management trustat the end of the 5years?Show your working.

Reference no: EM132779861

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