What is the total amount you will receive from the bank, Financial Management

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What is the total amount you will receive from the bank

Supposed you invest t$1000 in a one year deposit that pays 12% PA interest payable every 6 months. Assume you will be able to reinvest the interest earned on the deposit at the same interest rate and same terms as the deposit itself. At the end of one year, what is the total amount you will receive from the bank including principal and interest?

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Financial Management: What is the total amount you will receive from the bank

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