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Abid won R120 000 in a competition and immediately deposited the money into a sa...
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Abid won R120 000 in a competition and immediately deposited the money into a savings account earning 8,5% interest per annum, compounded monthly. Five months after winning, he withdrew a certain amount for his son’s education. The balance in his account one year after winning the money was R99 087,42. The amount he withdrew for his son’s education was
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