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Vusi borrowed money from Duncan. An amount of R20 000 is due now, and R10 000 due 3 years from now. He would like to
Vusi borrowed money from Duncan. An amount of R20 000 is due now, and R10 000 due 3 years from now. He would like to reschedule his two payments by means of one payment, 5 years from now. If a new simple interest rate of 14,75% per year is applied to the extended periods, the amount that Duncan will receive 5 years from now is A. R30 000. B. R47 700. C. R32 950 . D. R49 175
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