The Harris Family

Entertainment Club deposited R3 600 in an investment account a year ago,

with the intention of purchasing new equipment in four years’ time. Today, it

is adding a further R5 000 to this account. Plans are to make a final deposit

of R7 500 in the account next year. How much will be available when the family

are ready to buy the equipment, assuming the investment earns a 7% rate of

return?