16. Sibongile would like to invest R80 000 at the end of each year at an annual compound interest rate of 15%. Determine the value of the investment after five years by using the mathematical formula. [Set your calculator at four decimals and round your final answer to the nearest rand.] Take note: There will be rounding differences of +/R25 if you use your financial calculator instead of the mathematical formula as was specifically required. (a) R367 445 (b) R539 416 (c) R 53942 (d) R 80912 (3) 7. Jabulani needs R100 000 to cover his child's college expenses in eight years' time when his son finish school. If the account pays 12% compound interest per annum, what is the amount that Jabulani needs to invest now? [Set your calculator at four decimal places and round your final answer to the nearest rand.] (a) R56 092 (b) R32 690 (c) R86956 (d) R37 594 (3) 8. Maureen receives R4 000 annually indefinitely after investing money, at 7% compound interest. What is the present value (PV) of the amount that she invested? (a) R5714 (b) R5142 (c) R 57143 (d) R571429 (3)