Question
Unknown problem no. 8 Ole's parents set up a savings account for Ole when he was born. In the first 18 years (starting one month
Unknown problem no. 8 Ole's parents set up a savings account for Ole when he was born. In the first 18 years (starting one month after Ole's birth), the parents paid DKK 150 in to the account at the end of each month. After 18 years, the parents stopped the payments, leaving the balance to draw interest for another 3 years. The interest on the account is 2,15% p.a. throughout the period. In which interval is given the balance of the account (in DKK 1,000) when Ole turns 21? (Hint: Start calculating the interest calculated monthly and then calculate the balance of the account when Ole turns 18).
Unknown problem no. 8 Ole's parents set up a savings account for Ole when he was born. In the first 18 years (starting one month after Ole's birth), the parents paid DKK 150 in to the account at the end of each month. After 18 years, the parents stopped the payments, leaving the balance to draw interest for another 3 years. The interest on the account is 2,15% p.a. throughout the period. In which interval is given the balance of the account (in DKK 1,000) when Ole turns 21? (Hint: Start calculating the interest calculated monthly and then calculate the balance of the account when Ole turns 18). 4| | | B. C. D. *E. F. [36,38] 131; 33] ]39; 40[ 229; 31] [42; 43] [26; 28]Step by Step Solution
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