lsdpoon1337
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From 2U fitzpatrick 11(e), Q 8 and 9
8. A man is receive six payments of $500 each, the first payment in a year's time and subsequent payments at two-yearly intevals. He invests each payment at 9% per annum. How much will he immediately have after the last payment is made?
9. What sum of money should be invested now to provide $2000 at the end of 10years, assuming interest at the rate of 8% per annum for the first 6 years and 10% per annum thereafter?
Thanks
8. A man is receive six payments of $500 each, the first payment in a year's time and subsequent payments at two-yearly intevals. He invests each payment at 9% per annum. How much will he immediately have after the last payment is made?
9. What sum of money should be invested now to provide $2000 at the end of 10years, assuming interest at the rate of 8% per annum for the first 6 years and 10% per annum thereafter?
Thanks