Question
Question 2 (25 Marks) Page 3 of 5 Mrs Kruger has just retired from her teaching job of 45 years. She has been awarded a
Question 2 (25 Marks) Page 3 of 5 Mrs Kruger has just retired from her teaching job of 45 years. She has been awarded a retirement lump sum payment by her employers amounting to R800 000-00. She realizes that she does not want to make use of whole amount at once and decides to keep it with her bank in a zero interest account. Her son Juste argues that this arrangement with her bank is unfair to her and advices her to move this money to another account. Provide reasons and discuss why her son Juste believes that keeping money in a zero interest account is not beneficial to Mrs Kruger. (25 Marks)
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