Question: John Smith has estimated that he will require R100 000 in two years time in order to be able to pay the deposit towards an

John Smith has estimated that he will require R100 000 in two years’ time in order to be able to pay the deposit towards an overseas holiday. Beep Bank is offering an interest rate of 6% added 12 times per year on a fixed deposit. How much would John have to invest today to achieve his investment goal?

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