SOLUTION: 1.Peter makes equal monthly deposits at the end of each month for the next four years to gather an amount of R330 284.00. He start after one month with savings accumulating interes

Question 1196316: 1.Peter makes equal monthly deposits at the end of each month for the next four years to gather an amount of R330 284.00. He start after one month with savings accumulating interest at 12.5% per annum, compounded monthly. The monthly deposit amount is?
2.Jonathan obtained his degree and started his own consulting company in January of 2010. At the end of each month he began saving R2 480.00 in his account and requested the bank to quarterly debit three month sum of his exact savings towards his individual retirement account for a total period of ten years. The retirement account earned interest at 11% per annum, compounded quarterly. The amount that was available to him after ten years in the retirement account is?

Answer by ikleyn(52781) (Show Source): You can put this solution on YOUR website!
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