Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Your contract with your company states that you get one extra month of salary for each year of service in company. Your salary is 12,000
Your contract with your company states that you get one extra month of salary for each year of service in company. Your salary is 12,000 dirhams per month. You receive the end of service money at the end of y final year with the company. You work 10 years at this company. They pay you 120,000 dirhams. The company puts your extra one month salary at the beginning of each service year in the Stock Market (shares) as an investment giving an annual return of 5%. Calculate the total value of the money in shares af 10 years if the company re-invests all the initial capital and all returns in shares for the whole period of 10 years
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started