Jack has two grandchildren Mpho and Gugu. In his will he left them his estate worth...
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Jack has two grandchildren Mpho and Gugu. In his will he left them his estate worth R2 000 000 equally. They both invested a portion of their inheritance in an investment. Both of his grandchildren receives the same return, 10% per annum on their investments over a period of 20 years with a cash payment of R90 000 at the end of each year. Mpho invested his whole inheritance in the investment while Gugu also bought a car. Gugu will receive R500 000 at the end of the 20-year investment period but Mpho is unsure how much he will receive. a) Calculate the cost of Gugu's vehicle. (4 Marks) b) Calculate the value of Mpho's payment he will receive in 20 years. (4 Marks) Jack has two grandchildren Mpho and Gugu. In his will he left them his estate worth R2 000 000 equally. They both invested a portion of their inheritance in an investment. Both of his grandchildren receives the same return, 10% per annum on their investments over a period of 20 years with a cash payment of R90 000 at the end of each year. Mpho invested his whole inheritance in the investment while Gugu also bought a car. Gugu will receive R500 000 at the end of the 20-year investment period but Mpho is unsure how much he will receive. a) Calculate the cost of Gugu's vehicle. (4 Marks) b) Calculate the value of Mpho's payment he will receive in 20 years. (4 Marks)
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Jack Left Estate Worth R2000000 Equally for Mpho and Gugu C R1000000 each A In Case of Gugu Let ... View the full answer
Related Book For
Financial Accounting A User Perspective
ISBN: 978-0470676608
6th Canadian Edition
Authors: Robert E Hoskin, Maureen R Fizzell, Donald C Cherry
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