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Precious, a trainee accountant, invested an amount of money at 8% compounded in...
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Precious, a trainee accountant, invested an amount of money at 8% compounded interest. She will indefinitely receive an amount of R3 000 annually. Calculate the present value of the amount that Precious invested? Set your calculator to four decimal places and round your final answer to the nearest rand. If s light rounding differences occur - choose the alternative that is closest to your answer.
(a) R36 700
(b) R37 500
(c) R33 773
(d) R29 454
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