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After graduating from High School Peter works for four years. During this time he deposits each...

After graduating from High School Peter works for four years. During this time he deposits each month R 1000 on a savings account at an annual interest rate of 5% (no initial deposit). The next four years Peter spends on College. During this time he withdraws each month an amount of R pw from his savings account so that at the end of the four years the balance is zero again. Develop a mathematical model then find pw and the total interest earned.

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