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How much will be in the avvount at the end

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Reference no: EM132614869

Asume that you deposited R10,000 today into an account paying 6% annually interest and leave it on deposit for exactly 8 years.

Question a. How much will be in the avvount at the end of 8 years in interest is compounded:

1. Annually

2. Semi- annually

3. Monthly

4. Continuously

Question b. Calculate the affective annual rate (ERA) for a (1) through a (4 )above

Reference no: EM132614869

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