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Money and finance

Money and finance problem 5

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A group of students in the 1st year started raising money for a final graduation trip. Each of them invested € 140 in the common treasury at the end of each year for three years. The price of the graduation trip will be € 746.80 per person. How much will each student have to pay at the end of the 4th year if the money is remunerated annually at an interest rate of 3.2%?

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