emiliajimenez emiliajimenez

13-03-2024
Mathematics

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Arlene is saving for the deposit for a house. She has 15 000 AUD, but needs at least 19 000 AUD in 5 years time. She compares banks that offer annual interest compounded quarterly. What is the minimum interest rate she needs to meet her goal? Give your answer to three significant figures.

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