Sheldon invested in a pure endowment policy 15 years ago. The policy has now matured and the maturity value is R4 200 000. The policy is open-ended and she has decided to leave her money in the fund and make annual withdrawals of R240 000 at the beginning of every year for a period of 8 years. The growth rate of the fund is 9.2% per annum. Calculate the value of the policy after the eight (8) year term.

Answer rating: 100% (QA)

To calculate the value of the policy after the eightyear term well need to take into accou... View the full answer