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To save money for a new house, you want to begin contributing money to a savings account. Your plan is to make equal contributions to
To save money for a new house, you want to begin contributing money to a savings account. Your plan is to make equal contributions to the account for eight years. Each contribution will be R18 490,00. The contributions will be made at the end of every three-month period, starting three months from now. The savings account pays 9% interest per annum, compounded quarterly. How much money do you expect to have in the account at the end of the eight years? Select one: a. R636 545,43 b. R853 090,00 c. R37 684,52 d. R418 570,60
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