At the birth of his daughter, Mr Lucas Dalitso Zulu invested K10,000 at 6% p.a. compounded annually. What amount would accrue to her if she left the money invested until she attained the age of: (i) 18 years; (ii) 21 years; (iii) 40 years; and (iv)60 years?

At the birth of his daughter, Mr Lucas Dalitso Zulu invested K10,000 at 6% p.a. compounded annually. What amount would accrue to her if she left the money invested until she attained the age of: (i) 18 years; (ii) 21 years; (iii) 40 years; and (iv)60 years?

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

At the birth of his daughter, Mr Lucas Dalitso Zulu invested K10,000 at 6% p.a.
compounded annually. What amount would accrue to her if she left the money
invested until she attained the age of:

(i) 18 years;
(ii) 21 years;
(iii) 40 years; and
(iv)60 years?

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