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Given that in the initial return to investors of $22,000, 5 percent increment is already included.
So if say x be the initial amount invested in the scheme then,
Since returns increase at a rate of 5% every month, use the formula for compound interest, with initial principal of $20952.38; rate of interest at 5% and duration of investment as t months as follows,
3 years is same as 36 months so plug the value of t =36 in the above formula.
Thus the amount...
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