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What anzani will receive

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Reference no: EM132621018

On 5 April Anzani invested R75 000 in an account paying 8,37% interest per year, compounded monthly. Interest is credited on the 1st of every month. Anzani wants to open a Wheel and Tyre shop in Pretoria CBD. She will move into her new premises on 21 November of the same year.

Problem 1: If fractional compounding is used for the full term then Anzani will receive

Option [1] R79 020,29.

Option [2] R78 439,73.

Option [3] R79 047,39.

Option [4] R78 896,69.

Option [5] R79 027,82.

Reference no: EM132621018

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