Question
Samuel wishes to buy his dream car when he retires in 6 years time. The car now costs R350000. Car prices have been rising in
Samuel wishes to buy his dream car when he retires in 6 years time. The car now costs R350000. Car prices have been rising in price by an average of 5% per year and this trend is expected to continue. If Samuel can earn 9% p.a. interest how much must he deposit at the end of each month to be able to buy his dream car when he retires?
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Government and Not for Profit Accounting Concepts and Practices
Authors: Michael Granof, Saleha Khumawala, Thad Calabrese, Daniel Smith
7th edition
1118983270, 978-1119175025, 111917502X, 978-1119175001, 978-1118983270
