2. If you wish to accumulate R200,000 in 7 years' time by depositing R1,850 per month in an account with interest of 6% per year compounded monthly, what initial investment must I also make.

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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2. If you wish to accumulate R200,000 in 7
years' time by depositing R1,850 per month in
an account with interest of 6% per year
compounded monthly, what initial investment
must I also make.
3. A loan of R250,000 at a rate of 6.75% is
paid in ten years, by paying six equal
instalments at the end of every year. How
much is each instalment? (
Transcribed Image Text:2. If you wish to accumulate R200,000 in 7 years' time by depositing R1,850 per month in an account with interest of 6% per year compounded monthly, what initial investment must I also make. 3. A loan of R250,000 at a rate of 6.75% is paid in ten years, by paying six equal instalments at the end of every year. How much is each instalment? (
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