You want to purchase a new car and you are willing to pay R400 000. If you can invest at 11% peryear and you currently have R300 000, how long will it be before you have enough money to paycash for the car?

Solution : Given that The principal amount =R300000Total Amount A=R400000Interest rate…

Answered: You want to purchase a new car and you…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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You want to purchase a new car and you are willing to pay R400 000. If you can invest at 11% per year and you currently have R300 000, how long will it be before you have enough money to pay cash for the car?