Question: Four years ago Jonathan had started his saving for his dream holiday in Hawai by putting a lump sum of $20,000 into an investment portfolio.

Four years ago Jonathan had started his saving for his dream holiday in Hawai by putting a lump sum of $20,000 into an investment portfolio. The portfolio has been paying a rate of returns of 11.5% per year, compounding weekly.

Required:

  1. Calculate how much money has Jonathan accumulated by his investment portfolio now? (3 marks)

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