FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A small business operator, Ms Potty, needs to buy a delivery van. The van costs R420 000. She now has R90 000 in the bank

image text in transcribed
A small business operator, Ms Potty, needs to buy a delivery van. The van costs R420 000. She now has R90 000 in the bank earning interest of 0.75% per month. She can afford to save an additional R1200 per month. How long will it take her to accumulate the R420 000 needed, all things remaining constant? Show all workings. (13 Points)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Climate Finance

Climate Finance

Authors: Richard B. Stewart, Benedict Kingsbury, Bryce Rudyk

1st Edition

081474138X, 978-0814741382

More Books

Students also viewed these Finance questions

Question

★★★★★
A seismic wave is described by the equation y(x, t) = (7.00 cm) cos [(6.00( rad/cm) x + (20.0( rad/s)t] The wave travels through a uniform medium in the x -direction. (a) Is this wave moving right (...

Answered: 1 week ago

Question

★★★★★
Not understanding the Fibonacci Iterations in Java with a "Large Loop". 0 2 4 5 5 6 3 7 8 9 8 9 1 7 0 2 6 4 Show the contents of the array after FIFTH iteration of the large loop in an insertion sort...

Answered: 1 week ago

Question

★★★★★
Compare and contrast leveraged ratios and solvency ratios.

Answered: 1 week ago

Question

★★★★★
Paul Company completed the salary and wage payroll for March 2011. The payroll provided the following details: Salaries and wages earned ........ $200,000 Employee income taxes withheld .... 40,000...

Answered: 1 week ago

Question

★★★★★
A small business operator, Ms Potty, needs to buy a delivery van. The van costs R420 000. She now has R90 000 in the bank earning interest of 0.75% per month. She can afford to save an additional...

Answered: 1 week ago

Question

★★★★★
Barfield Corporation prepares business plans and marketing analyses for startup companies in the Cleveland area. Barfield has been very successful in recent years in providing effective service to a...

Answered: 1 week ago

Question

★★★★★
While conducting a craniometric ancestry estimation using Fordisc, you notice that the smallest sample size for the groups under consideration is 51. Based on the guidelines discussed above, what is...

Answered: 1 week ago

Question

★★★★★
Discuss the transformation of energy starting from when the plunger is compressed towhen the cart travels down the track. 

Answered: 1 week ago

Question

★★★★★
Supposed a company Green Star provides on following production scenario for 06 months of the production Months Units Products Total cost production January 3000 R 65 000 February 2700 R 27 000 March...

Answered: 1 week ago

Question

★★★★★
Consider the following equations of motion. v = V + at Ax = vot + 11 at 2 2 v = vo + 2aAx (a) Can the equations above be used in a situation where the acceleration varies with time? O Yes No (b) Can...

Answered: 1 week ago

Question

★★★★★
Find f. f"(x)=12x+24x Oa. f(x)=6x+4x++Cx+D Ob. f(x)=x+4x+Cx+D Oc. f(x)=2x+2x + Cx+D Od. f(x)=2x3+x+Cx+D Oe. f(x)=4x +8x+Cx+D

Answered: 1 week ago

Previous Question Next Question