DSC1630 Solution Assignment 2 Semester 2 Full Test: DUE 22 August 2023
Question 1
Lindiwe de ides that she would like to buy her daughter, Mbali, a ar when she turns 21 in six years'
time. She deposits R6 000 ea h month into an amount earning 8,94% interest per year, ompounded
monthly. The amount that Lindiwe (rounded to the nearest rand) will have available six years from
now is
[1℄ R432 000.
[2℄ R335 896.
[3℄ R573 187.
[4℄ R568 948.
In this problem we have equal payments in equal time periods (monthly), plus the interest rate is
spe i ed as ompounded, thus we are working with annuities. We need to determine the future value
of an ordinary annuity. Thus we use the formula S = Rs i.
S = Rs i
= 6 000s 0,0894÷12
= 568 948,33 . . .
Lindiwe will have R568 948 available
Download all 25 pages for $ 22.82
Add document to cartINVEST AND BOOST YOUR GRADES!
THIS ACCOUNT WILL HELP YOU EXPLORE A TREASURE TROVE OF EXAMS, FLASH CARDS, TEST BANKS, AND STUDY GUIDES. TRANSFORM YOUR STUDY SESSIONS. UNLEASH THE POTENTIAL OF YOUR EDUCATION TODAY!
ati teas ati teas 7 - english & language usage ati teas 7 english & language usage ati teas 7 english and language usage ati teas 7 english language ati teas 7 exam ati teas 7 math ati teas 7 reading ati teas 7 reading - ati teas 7 science ati teas exam questions with correct detailed answers 2024 (verified answers) |already graded a+ ati teas science ati teas science real exam questions and verified answers 2024 lates update// a grade ati teas: science exam questions with correct detailed answers with rationales (verified answers) |already graded a+||updated may 2024! bios misc ati teas 7 education mathematics nrnp 6566 week 10 knowledge check tea mathematics teas 7 teas nursing enterence exam teas nursing entrance exam review teas practise