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Fatima needs R150 000 as a deposit for a new home. She earns 6% p.a. compound interest. What is the amount that she should invest to receive R150 000 in 5 years' time?
in Grade 10 Maths Literacy by Platinum (111k points) | 29 views

1 Answer

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A= P (1+r)^n

150 000=P (1+0.06)^5

P=150 000/(1.06)^5

=R112 088.73

by Diamond (82.9k points)
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