Answer to Question #340872 in Financial Math for vrishin

Question

Regular equal half-yearly deposits of R10000 are made into a savings account that earns interest at a rate of 9% p.a starting six months from now and ending three and a half years from now. Thereafter equal quarterly amounts of R2500 are deposited into the same account with the first quarterly deposit made six months after the last deposit of R10000. If the lastquarterlypayment of R2500 is made five years from now then the total accumulated amount in the account, rounded to the nearest cent, is equal to R

Answer 1

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