Poll 4 Kenny has not received his regular fortnightly wage payable at the end of each fortnight despite working for the past 20 weeks. His weekly salary is $1,200. If his employer can only pay for his total salary (with accumulated interests) after a further 4 weeks from now and the nominal rate of interest is 4% per annum compounded weekly, calculate the amount of single lump sum to be paid by the employer. ure4 Lecture roblem Solvin | . g msWe Solution 4 .04 2 me = (1 + 052) 1 = 0.001539