QUESTION I

QUESTION II

Joshua saved every month R200 into an account that yields 8.5% pa. compounded monthly as from 25 November 2001. He also deposited annually R25 000 of his 13th cheque into that account on the 25th of October, the month of his birthday. It is today, September 26, 2018. How much is now in that account? The balance on her savings account at the end of year 2 was R72 423.38. At the end of year 5 it was R125 630.41. Determine the balance on her account at the end of year 10. Assume that the interest rate was the same and her savings amount every month was R650 Ivan has one daughter and one son. It is estimated that an average wedding cost R25 000. Assuming 7.5% annual inflation, what would it cost Ivan to pay for his daughter's wedding in 16 years