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Your parents deposited 100 in a bank account for you when

Your parents deposited $100 in a bank account for you when you were born. For the first 16-years of your life, the interest rate earned on the account was 6.5%. Since then, rates have fallen considerably and have averaged just 3%. Now you are 30-years of age and want to cash in to fund your property deposit. How much is in your account?

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Financial Management: Your parents deposited 100 in a bank account for you when

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