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Gabriel is a Finance student at a University and he shared the concept of Time Value of Money with his little brother, Mark, who is
Gabriel is a Finance student at a University and he shared the concept of Time Value of Money with his little brother, Mark, who is in grade 7 . Mark was so fascinated with the topic that he decided to save N$5.00 every time his parents gets paid and give him pocket money. His parents gets paid at the beginning of every second week and gives pocket money to all their children immediately. In order for Gabriel to encourage his little brother, he agreed that Mark would earn 3% per week on his funds if his little brother commits to set aside the funds for 2.5 years. Required: How much would Mark receive at the end of 2.5 years
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