Answer to Question #211881 in Financial Math for Girly

Question #211881

Moshe will need R145 000 in three years’ time, to open a bakery. He immediately starts to make monthly deposits into an account earning 11,05% interest per year, compounded monthly. Moshe’s monthly deposit i


1
Expert's answer
2021-07-16T01:31:12-0400

The following formula will be used to calculate the monthly deposit:



Calculate monthly deposit as follow:


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