John wants to start saving for an apartment. On his 20th birthday, he starts depositing R500 per
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John wants to start saving for an apartment. On his 20th birthday, he starts depositing R500 per week into a bank account with an annual interest rate of 8%, compounded weekly. He will continue to make these weekly payments until the day of his 29th birthday. How much money will he have saved by then to finance the purchase of an apartment?
Related Book For
Quantitative Investment Analysis
ISBN: 978-1119104223
3rd edition
Authors: Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, David E. Runkle
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