Question

During the 2009/2010 fiscal year, SAB generated sales revenue of R33 billion. SAB decided to invest R330 000 in fixed account that earns 10% interest. How much the fixed account be worth in five years' time?

1. R531 465
2. 337 669
3. 483 153
4. 830 258

Answer 1

$Amount = 330000×[1+\frac{10}{100}]^5=531468.3$

R 531 465