Question
Your father wants to retire in 15 years and he wants to receive R12 000 per month for 10 years after his retirement date. The
Your father wants to retire in 15 years and he wants to receive R12 000 per month for 10 years after his retirement date. The insurance agent provided him with an investment rate of 12% per annum, compounded monthly. What would his monthly contributions be, in order to meet his desired return?
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Finance for Non Financial Managers
Authors: Pierre Bergeron
7th edition
176530835, 978-0176530839
