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You are considering the following investment alternatives: Term Deposit A: You...
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You are considering the following investment alternatives:
Term Deposit A: You invest $888 now for 2 years, where interest is calculated and paid monthly at 3% p.a.
Term Deposit B: In 1 years time, you invest $888 for 2 years, where interest is calculated and paid monthly at 3% p.a.
Calculate the Future Value of each deposit at maturity.
Comparing the Future Value of each deposit at maturity, which has the higher Value?
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