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Question: last year jane s grandmother offered to put enough money...

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Last year Jane s grandmother offered to put enough money into a savings account to generate S5000 in interest this year to help pay Jane s expenses at college. (a) Identify the symbols, and (b) calculate the amount that had to be deposited exactly 1 year ago to earn $5000 in interest now, if the rate of return is 6% per year.
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