Every six months, an amount of R2 200 is paid into a savings account. The applicable interest rate is 11,32% per year, compounded every four months. Calculate the approximate accumulated amount of these semi-annual payments after nine years. O a. R80 322 O b. R66 173 O c. R66 342 O d. R100 190

Every six months, an amount of R2 200 is paid into a savings account. The applicable interest rate is 11,32% per year, compounded every four months. Calculate the approximate accumulated amount of these semi-annual payments after nine years. O a. R80 322 O b. R66 173 O c. R66 342 O d. R100 190

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 22PROB

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