0 like 0 dislike
9 views
Lorinda invested R14 000 into an account earning 9% per year, compounded weekly. She received R16 758,44. Determine the number of periods under consideration.
in BNU1501 by Diamond (40.2k points) | 9 views

1 Answer

0 like 0 dislike
A =P ( 1+ i)^n... 16 758.44= 14000(1+0.09)^n .... 1.197=(1.09)^n .... n= log 1.197 ÷ log 1.09.... n=2.087 years
by Wooden (3.5k points)
Welcome to MathsGee Skills Question and Answer Bank, a platform, where you can ask study questions and receive answers from other members of the community. Help is always 100% FREE!
MathsGee Q&A is the knowledge-sharing community where millions of students and experts put their heads together to crack their toughest homework questions.

Enter your email address:

Popular Courses

Python For First Timers
Python For Everyone