i) Jones Ltd invests 230,000 at 3% compound interest for five years. What will be the value
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i) Jones Ltd invests £230,000 at 3% compound interest for five years. What will be the value of the investment after five years?
ii)Tips Ltd has received £102,829 after investing for 7 years at an annual interest rate of 8%. What was the original amount they invested?
iii) Rates Ltd invests £27,000 and after 8 years it has received £45,000. The interest rate the bank applied to the deposit changed each year. Using the geometric mean method, calculate the average annual interest rate.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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