Blazzok
New member
LOL Thanks [MENTION=9237]Ike_009[/MENTION]
QUESTION 18
William wants to buy a new car for R200 000 in 4 years’ time. He has saved R15 000 up to this point in time. How much money would he have to save each year towards buying a car, assuming a 10% interest per annum?
1. R38 362
2. R43 094
3. R46 250
4. R47 826
fv 200,000.00
pv (15,000.00)
i 10.00
calculate PMT (38,362.10)
Therefore no 1
right?
Cos a few people got:
PMT: FV DIVIDED BY FVIFA 10%.4 : R200 000 / 4,641 = R43 094?
Yeah I also get R38 362
I tried using R43 094 as the payment amount to get to R200 000, but I can't
Tried silly combinations and all
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