Answer to Question #324316 in Economics for Bea

Question

During the 2019/2020 fiscal year, SAB generated sales revenue of R33 billion. SAB decided to invest R330 000 in a fixed account that earns 10% interest. How much will the fixed account be worth in five years’ time?

Select one:

a.

R531 465

b.

R337 669

c.

R483 153

d.

R830 258

Answer 1

330 000 x 1.10 x 1.10 x 1.10 x 1.10 x 1.10 = 531 465

a.

R531 465