Suppose you have just retired from formal employment and you have been given a K150,000 lump sum payment and you decide to invest this amount in fixed deposit account at 10% rate of interest for a period of four years. How much will this annuity accumulate at the end of the fourth year? 

Answer rating: 100% (QA)

Investing a lump sum of Ksh 150000 in a fixed deposit account at a 10 interest rate for four years w... View the full answer