# Compounded monthly. 5. Amir decides to set aside AED6000 at the end of each month for...

###### Question:

Compounded monthly. 5. Amir decides to set aside AED6000 at the end of each month for his daughter's marriage. If the daughter were to be born today, how much will be available for her marriage when she turns 20 years old? Assume an interest rate of 8% compounded quarterly.

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