Vhutshilo won R165 000 and decided to deposit 65% of this amount in an a amount earning 8,25% interest per year, compounded every four months. The accumulated amount after five years is
[1] R247 862,83.
[2] R151 490,63.
[3] R248 203,55.
[4] R161 110,84.
[5] R161 332,31.
given,
p= R 165,000
DEPOSIT AMOUNT = 65% OF P
R = 8.25%
M = 4
N = 5
PV
Hence option 5 is correct
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