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Please solve question K. Thank you G12279 *o K(k) G12280 Ten monthly payments of R4 000 are made into a savings account at the beginning
Please solve question K. Thank you
G12279 *o K(k) G12280 Ten monthly payments of R4 000 are made into a savings account at the beginning of each month, starting immediately. Calculate the total accumulated amount at the beginning of the 131 month. The interest rate is 14,4% per annum compounded monthly. 55 Refilwe deposits an amount of R9 000 into a savings policy paying 14% per annum compounded quarterly. Six months later, she deposits a further R2 000 into the policy. Three months later, she deposits a further R2 000 into the policy. She then continues to make quarterly deposits of R2 000 into the policy. Nine years from her first deposit of R9 000, Refilwe decides to deposit R6 000 into the policy, rather than her usual R2 000. Calculate the value of her savings at the end of the nine-year savings period after her final deposit of R6 000. 12 435,21Step by Step Solution
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