On 4 January 2020 Thabo deposited P7 800 into savings account. The simple interest rate agreed upon was 6.2% per annum. What will be accumulated amount in the savings account on 21 November 2020? (Assume a year has 365 days).

b. Joanna has taken an endowment policy that matures in 30 years. The expected interest rate per year is 11.15%. Her annual payment (at the end of each year) is P8000. Calculate:

i. The present value of the policy

ii. The future value of the policy

c. Find the value of $10,000 in 10 years. The investment earns 8% for four years and then earns 4% for the remaining six years.

d. P1 400 was left in an investment account for 20 years and it earned 12.5% per year compounded half-yearly. Calculate the value of the investment after 20 years.

Answer rating: 100% (QA)

a To calculate the accumulated amount in the savings account on 21 November 2020 we need to determine the interest earned and add it to the initial de... View the full answer