Question: John Smith has estimated that he will require R25000 in 2 years time in order to be able to pay the deposit towards an

John Smith has estimated that he will require R25000 in 2 years

John Smith has estimated that he will require R25000 in 2 years time in order to be able to pay the deposit towards an overseas holiday. Beep bank is offering an interest rate of 2% added 1 times per year on a fixed deposit. How much would John have to invest today to achieve his investment goal. Enter the different inputs below in presenting your answer. Completion instructions. If applicable round to two decimal places for example R4 245.567 is written as 4245.57. Do not use the rand symbol in your answer and do not enter a minus (-). TVM P/YR FV PV I/YR N

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