Ntombi wants to open a Paint-and-Decor Shop and borrows R450000 from Uncle Sakhile. She realises...

80.2K

Verified Solution

Question

Finance

Ntombi wants to open a Paint-and-Decor Shop and borrows R450000 from Uncle Sakhile. She realises that she will only be able to start paying him back five years from now. Money is worth 9,8% per year, compounded every three months.
The amount of money that Ntombi will owe Uncle Sakhile five years from now is
a.
R718164,96.
b.
R670500,00.
c.
R730216,71.
d.
R662832,69.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students