Raeesa invests R4 million into an account earning interest of 6% per annum, compounded annually. How much will her investment be worth at the end of 3 years?
Joanne invests R4million into an account earning interest of 6% per annum, compounded monthly.
She withdraws an allowance of R30 000 per month. The first withdrawal is exactly one month after she has deposited the R4 million. How many such withdrawals will Joanne be able to make?
If Joanne withdraws R20 000 per month, how many withdrawals will she be able to make?
Jeffrey invests R700 per month into an account earning interest at a rate of 8% per annum, compounded monthly. His friend also invests R700 per month and earns interest compounded semi-annually (that is every six months) at r% per annum. Jeffrey and his friend's investments are worth the same at the end of 12 months. Calculate r.
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