An investor invests the following amounts of money in a bank account: R18,850 on 1 September 2019 , R15,575 on 31 May 2021 and R19,465 on 1 February 2023. From 1 October 2021 up to 30 April 2023 an amount of R980 is invested at the start of every month. From 1 July 2020 up to 31 March 2022 an amount of RX is invested at the end of each quarter. On 1 January 2019 the total present value of all the investments is R75,998.34. If the interest rate is 8.75% per year, calculate the value of X (annuity invested every quarter)
An investor invests the following amounts of money in a bank account: R18,850 on 1 September 2019 , R15,575 on 31 May 2021 and R19,465 on 1 February 2023. From 1 October 2021 up to 30 April 2023 an amount of R980 is invested at the start of every month. From 1 July 2020 up to 31 March 2022 an amount of RX is invested at the end of each quarter. On 1 January 2019 the total present value of all the investments is R75,998.34. If the interest rate is 8.75% per year, calculate the value of X (annuity invested every quarter)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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An investor invests the following amounts of money in a bank account:
R18,850 on 1 September 2019 , R15,575 on 31 May 2021 and R19,465 on 1 February 2023.
From 1 October 2021 up to 30 April 2023 an amount of R980 is invested at the start of every month.
From 1 July 2020 up to 31 March 2022 an amount of RX is invested at the end of each quarter.
On 1 January 2019 the total present value of all the investments is R75,998.34. If the interest rate is 8.75% per year, calculate
the value of X (annuity invested every quarter)
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