Question: [ Maximum mark: 7 ] 2 2 N . 1 . SL . TZ 0 . 7 On 1 December 2 0 2 2 ,
Maximum mark:
NSLTZ
On December Laviola invests euros EUR into a savings account which pays a nominal annual interest rate of compounded monthly. At the end of each month, Laviola deposits an additional EUR into the savings account.
At the end of months, Laviola will have saved enough money to withdraw EUR
a Find the smallest possible value of for
b For this value of find the interest earned in the savings account.
Express your answer correct to the nearest EUR.
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