When his son was four years old, Vuyisanani made a deposit of R18 400,00 in the bank The investment grew at a simple interest rate and, when Vuyisanani's son was 24 years old, the value of the investment was R57040,00 Had the interest been 1,5% less, how much interest would he have accumulated in the 20 years? A. R38 640,00 B. R5 520,00 C. R33 120,00 D. R32417,56

When his son was four years old, Vuyisanani made a deposit of R18 400,00 in the bank The investment grew at a simple interest rate and, when Vuyisanani's son was 24 years old, the value of the investment was R57040,00 Had the interest been 1,5% less, how much interest would he have accumulated in the 20 years? A. R38 640,00 B. R5 520,00 C. R33 120,00 D. R32417,56

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 28P

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