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What the approximate time that will take mary to save is

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Reference no: EM132621010

Problem 1: Mary deposits R400 every three months into a bank account earning interest at 16% per year, compounded quarterly. The approximate time that it will take Mary to save R40 000 is

Option [1] 40 quarters.

Option [2] 12 quarters.

Option [3] 41 quarters.

Option [4] 28 quarters.

Option [5] 2 quarters.

Reference no: EM132621010

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