Solution-How much would she need to invest at the end of

How much would she need to invest at the end of each month

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Question: A nurse wants to buy a new small car in three years' time. The car she wants to buy currently costs R80 000 but is expected to escalate at a compound rate of 4% per annum. The nurse can invest money at 9% p.a. compounded monthly.

(a) How much would she need to invest at the end of each month to purchase the car after three years?

(b) How much would she need to invest at the beginning of each month to purchase the car after three years?

Reference no: EM131582734

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How much would she need to invest at the end of each month

Reference no: EM131582734

Reference no: EM131582734

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