







I expect to retire in 12 years 
20090803 

From Polly: I expect to retire in 12 years. Beginning one month after my retirement, I would like to receive $500 a month for 20 years. How much must I deposit into a fund today to be able to do so if the rate of interest on the deposits is 12% compounded monthly? Answered by Stephen La Rocque. 





An annuity 
20090227 

From Jules: R 20 000 is deposited in the bank,at the end of each year R 5 000
is withdrawn from it, the interest is 13 percent compounded monthly.
Calculate how many years that person will be able to use his/her money ? Answered by Stephen La Rocque. 





Saving for his daughter's education 
20090115 

From George: To save for his daughter’s university education at the end of each month Mr McLean sets aside £50 in a savings scheme paying 10% p.a. compounded monthly. He begins saving when his daughter is 3 years old. How much will he have saved by the time his daughter is 18? Answered by Harley Weston. 

