3 items are filed under this topic.
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I expect to retire in 12 years |
2009-08-03 |
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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. |
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An annuity |
2009-02-27 |
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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is withdrawn from it, the interest is 13 percent compounded monthly.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. |
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Saving for his daughter's education |
2009-01-15 |
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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. |
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