Answer to Question #336807 in Functional Analysis for Natasha

Question

Emmerson invests N$100,000.00 on a monthly basis, at the end of each month at an interest rate of

8.5% compounded quarterly.

a) How much will he have after 3.5 years?

(6)

b) How much interest does he earn on a monthly basis? (Hint: Calculate the monthly average).(4)

Answer 1

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