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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

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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)

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