Olivia is an entry-level employee in a large supermarket in central London who is trying to understand her financial situation. Olivia currently lives 5 miles away from her workplace. She works part time and earns 1500 per month. Olivia likes to save 350 per month i.e., 4,200 per annum from her part time job. She transfers the 4,200 into her savings account at the end of every year. As to the following accommodation expenses table published by the local Camden Council, employees were randomly selected to help understand the weekly accommodation expenses and distance to their workplace. D. Assuming Olivia is saving the same amount every year in the next 6 years. The time is Jan 01, 2023. 

How much will be the balance on Olivia's savings account on Dec 31, 2028, if her savings account pays simple interest rate 3.5% perannumand Olivia always keeps the interest in her saving account?

Answer rating: 100% (QA)

To calculate Olivias savings balance on December 31 2028 we first need to determ... View the full answer