**Answer**

$P = \text{R10 470.33} $

**Explanation**

James wants to receive R54 800 after a 10-year investment period. How much must he invest if he receives an interest rate of 18% compounded annually?

The formula for compound interest is:

\[A = P(1 + i)^n \]

$A=R54800; n=10 ; i=0.18 $

\[ 54800 = P(1+0.18)^{10} \]

\[ \dfrac{54800}{(1+0.18)^{10}} = P\]

therefore

\[ P = \text{R10 470.33} \]