0 like 0 dislike
13 views
Determine the accumulated amount of an annuity with half-yearly payments of R2 400 each at an interest rate of 11,6% per year, compounded half yearly. The time under consideration is six years.
in BNU1501 by Diamond (40.1k points) | 13 views

1 Answer

0 like 0 dislike
P = PMT x [ (1 + r )^n-1]/r

P= (2400 ) x [( 1 +  0.058)^12 - 1]/ 0.058

P= R40 018.22
by Wooden (3.5k points)

Related questions

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:

Categories

[consumerlti id="python_coding"]