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Hi Tutors, please assist with the following questions. Thank you so much R 10000 is deposited annually into a life insurance fund for 10 years
Hi Tutors, please assist with the following questions.
Thank you so much
R 10000 is deposited annually into a life insurance fund for 10 years after which i will retire.
- if i started making deposits at the beginning of the year and earn interest rate of 8%, how much will i have at the end of year 10?
- Instead of a lump sum, i receive annuities for the next 20years (years 11 through 30). what is the constant annual payment i expect to get assuming the 8% interest rate during the distribution period.
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