Intermediate. Sydney is considering making a monthly investment for her son who will be five years old
Question:
Intermediate. Sydney is considering making a monthly investment for her son who will be five years old on his next birthday. She wishes to make payments until his 18th birthday and intends to pay £50 per month into an account yielding an APR of 12.68 per cent. She plans to start making payments into the account the month after her son's fifth birthday.
How much will be in the account immediately after the final payment has been made?
(a) £18847
(b) £18377
(c) £47606
(d) £18610.
ACCA Paper 1.2 - Financial Information for Management
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