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What the amount that she can expect to receive

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Problem 1: Thandi took out an endowment policy that matures in 30 years. The expected interest rate per year is 11,15% compounded once a year. Her first yearly payment is R7 500, after which the yearly payments will increase with R800 each year. The amount that she can expect to receive on the maturity date will be?

Reference no: EM132763555

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