Karry and Jill are saving money in the next 4 years for a deposit to buy their flat. They plan to put money in their bank account at the beginning of each year, starting at $20,000 with the amount growing at 10% each year.

If the bank pays an interest rate of 3% per annum, what would they have accumulated at the end of four years?

Answer rating: 100% (QA)

The amount is computed as shown below Future va... View the full answer