✅ The verified answer to this question is available below. Our community-reviewed solutions help you understand the material better.
Gecko Dynamics deposited R16 500 in an investment account a year ago with the intention of buying new machinery three years from now. Today, it is adding another R12 000 to this account. The company plans on making a final deposit of R20 000 to the account one year from today. How much will be available when it is ready to buy the equipment, assuming the account pays 5,5% interest?