Question
A person wants to invest 1,500 TL into a fund as an annuity due for 15 years. The first payment will be made now. This
A person wants to invest 1,500 TL into a fund as an annuity due for 15 years. The first payment will be made now. This person will withdraw the money from the fund at the end of the 15th year and invest the money into a six-month time deposit account for 5 years. The money will be compounded ever six-month in the time deposit account. How much money does this person have at the end of the 20th year from now? (15 years in the fund + 5 years in time deposit account). Annual interest rate for the time deposit account is 14 %. Annual rate of return of the fund is 16 %.
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