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{"ops":[{"insert":"4 points\nA woman wishes to deposit a lump sum into a savings account now from which she can withdraw regular amounts to pay for the maintenance of hel\nneed to withdraw regular half-yearly amounts from the savings account starting with a withdrawal of R1500 eighteen months from now from now an\nwithdrawal five years from now. To keep up with inflation the withdrawals will need to increase at a rate of 6% p.a each half-year from the second wi\nthe savings account earns interest at a rate 6,8% p.a.compounded daily, then the amount, to the nearest cent, that must be deposited into the saving\nto fund the future growing withdrawals, is equal to:\n(Hint: Think carefully about where the Pv and Fv of the withdrawals is situated on the time line!)\n\n"}]}
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