Question
Sindy has a capital amount of R800 000. He wants to withdraw an amount of R77 000 from the fund on 1 January and 1
Sindy has a capital amount of R800 000. He wants to withdraw an amount of R77 000 from the fund on 1 January and 1 July each year. He earns interest of 9.6% per annum on the money in the investment. Thabo wants you to calculate for how long his capital will last before it is depleted.
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Personal Finance
Authors: Thomas Garman, Raymond Forgue
12th edition
9781305176409, 1133595839, 1305176405, 978-1133595830
