Vusi received a R10000 bonus from his employer.Rather than spend it all at once,he fixed to deposit it into a bank sketch that pays 12% interest p.a. compounded monthly.He will make equal monthly withdrawal for 2 years.after the last subtraction the account will be insincere.How much will he withdraw respectively month?
1)R470.72
2)R500
3)R512.35
4)R460.53
Please show steps
Answers: 470.72.
input the following formula into excel:
=PMT(0.01,24,-10000)
or into a financial calculator:
PV=10,000
n=24
i=1%
Compute: PMT
On my calculator it is as follow:
Interest - compounded monthyl, so Interest is 1 (12%/12 months)
N = number of periods 2 years times 12 months for compunded monthly, so N=24
Present Value is 10000
Future Value is zilch
Solve for PMT, which is 470.72
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1)R470.72
2)R500
3)R512.35
4)R460.53
Please show steps
I am a forex neophyte. Which is the most accurate of MACD surrounded by forex trading?
Answers: 470.72.
input the following formula into excel:
=PMT(0.01,24,-10000)
or into a financial calculator:
PV=10,000
n=24
i=1%
Compute: PMT
On my calculator it is as follow:
Interest - compounded monthyl, so Interest is 1 (12%/12 months)
N = number of periods 2 years times 12 months for compunded monthly, so N=24
Present Value is 10000
Future Value is zilch
Solve for PMT, which is 470.72
Resolved Questions: