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QUESTION Jabari is planning for his retirement in 5 years' time. He plans to deposit $200,000 immediately into an investment plan that promises 11% annually.

QUESTION

Jabari is planning for his retirement in 5 years' time. He plans to deposit $200,000 immediately into an investment plan that promises 11% annually. He will deposit $30,000 and the end of each of the next five years.

A. What will be the value of the investment when Jabari retires in 5 years?

B. Explain TWO (2) factors that affect the nominal interest rate.

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