Crowdly
Add to Chrome
You decided to save your spare cash that you estimated that you will have avail...
✅ The verified answer to this question is available below. Our community-reviewed solutions help you understand the material better.
You decided to save your spare cash that you estimated that you will have available at the end of each year for the next four years. You estimated that you will have R5 000 available in Year 1; R6 000 in Year 2; R4 000 in Year 3 and R5 000 in Year 4. You will invest these estimated amounts at a bank that allows 10% compound interest to be earned. Calculate the Present value of your future income from this investment? Set your calculator on 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) R15 924
(b) R17 517
(c) R17 434
(d) R22 000