d. Jackline plans to start her small family business in ten years' time. She has decided todeposit Sh.200,000 at the end of each year for 10 years in a savings account earning10% per annum.1 Required:i. Compute the total amount of money in the savings account at the end of the ten years?ii.How much will she have at the end of the ten years if she decides to deposit 200,000 atthe beginning of each year in the same account?

In this question future value when deposits are made at the beginning as well when deposits are made…

Answered: d. Ja d. 1

Business

Finance

d. Ja d. 1

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 15E

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Concept explainers

Loanable Funds Theory

The loanable funds theory is a neoclassical theory that determines the interest rate where the demand for loanable investments and supply of loanable funds intersect. To determine the interest rate, this theory employs linear regression and a demand curve. At the equilibrium point, demand for borrowings and demand for the issuance of borrowing funds are inextricably linked. This point of equilibrium should equalize demand and the supply of money available for borrowing.

Question

d. Jackline plans to start her small family business in ten years' time. She has decided to
deposit Sh.200,000 at the end of each year for 10 years in a savings account earning
10% per annum.
1

Required:
i. Compute the total amount of money in the savings account at the end of the ten years?
ii.
How much will she have at the end of the ten years if she decides to deposit 200,000 at
the beginning of each year in the same account?

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