Petter deposits R100 monthly into a bank account earning interest at an interest rate of 18% per annum, compounded monthly. The time (in month. that it will take the account to accumulate to R20 000 is given by
Petter deposits R100 monthly into a bank account earning interest at an interest rate of 18% per annum, compounded monthly. The time (in month. that it will take the account to accumulate to R20 000 is given by
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Petter deposits R100 monthly into a bank account earning interest at an
interest rate of 18% per annum, compounded monthly. The time (in months)
that it will take the account to accumulate to R20 000 is given by
![UA.
O B.
C.
D.
n
n =
n =
In [200(1,015)]
0,015
H
In [200(0, 015) + 1]
In(1+0,015)
In [200(1, 015) + 1] - In(1,015)
In [200(0, 015)-1]
In (1+0,015)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe94009f7-e130-40c2-8471-59a9697eb507%2F1759f12c-0031-47c2-8870-780b669196b4%2Foczdgrf_processed.jpeg&w=3840&q=75)
Transcribed Image Text:UA.
O B.
C.
D.
n
n =
n =
In [200(1,015)]
0,015
H
In [200(0, 015) + 1]
In(1+0,015)
In [200(1, 015) + 1] - In(1,015)
In [200(0, 015)-1]
In (1+0,015)
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