The retail price of a watch is listed as $266000. Nick saves $6500 every half a year for the next 3 years and $17500 every half a year for the subsequent 4 years. If the interest rate is yielding 13.4% p.a compounded fortnightly, would Nick have enough money to purchase this watch and how much deficit or surplus would result?

Answer rating: 100% (QA)

To determine if Nick would have enough money to purchase the watch we need to calculate the future v... View the full answer