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An amount is invested in an account which pays interest at a rate of \(16 \%\) per annum compounded monthly. After five years, half the amount in the account at that stage is withdrawn and deposited into a new account which pays \(18 \%\) per annum effective. The other half of the accumulated amount is left in the original account. At the end of a further five years, the combined total in the two accounts is R29 896,78. How much was originally deposited in the first account?
in Mathematics by Diamond (66,297 points) | 65 views

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