Bucks Bank is offering two investment plans to its clients. The details of both plans are...
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Bucks Bank is offering two investment plans to its clients. The details of both plans are as follows. PLAN A: Monthly contribution Starting date Maturity date Expected maturity value Interest compounded PLAN B Lump sum investment Investment date Maturity date Expected maturity value Interest compounded REQUIRED R 2 500 at the beginning of each month 1 January 2017 31 December 2020 R 165 000 Monthly R 120 000 1 January 2017 31 December 2021 R 185 000 Annually Q.2.5 Calculate the difference between the annual interest rates offered on both investment plans Bucks Bank is offering two investment plans to its clients. The details of both plans are as follows. PLAN A: Monthly contribution Starting date Maturity date Expected maturity value Interest compounded PLAN B Lump sum investment Investment date Maturity date Expected maturity value Interest compounded REQUIRED R 2 500 at the beginning of each month 1 January 2017 31 December 2020 R 165 000 Monthly R 120 000 1 January 2017 31 December 2021 R 185 000 Annually Q.2.5 Calculate the difference between the annual interest rates offered on both investment plans Bucks Bank is offering two investment plans to its clients. The details of both plans are as follows. PLAN A: Monthly contribution Starting date Maturity date Expected maturity value Interest compounded PLAN B Lump sum investment Investment date Maturity date Expected maturity value Interest compounded REQUIRED R 2 500 at the beginning of each month 1 January 2017 31 December 2020 R 165 000 Monthly R 120 000 1 January 2017 31 December 2021 R 185 000 Annually Q.2.5 Calculate the difference between the annual interest rates offered on both investment plans
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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