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In seven years' time, Johnny and Co want to invest in a joint venture with a Japanese company on a project in South Africa. The

In seven years' time, Johnny and Co want to invest in a joint venture with a Japanese company on a project in South Africa. The estimated value of the project is R150000,00. How much do they need to set aside if the bank offers them an interest rate of 9% compounded semi-annually at the end of the year?
a.
R44886,97
b.
R80995,93
C.
R82055,14
d.
R40497,97
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