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Time Value of Money, Financial Management
Two years ago, Randburg Ltd needed to accumulate a total of R250000 by the end
of 5 years to acquire new imported machinery. To do so Randburg Ltd makes
quarterlyannual deposits into a fund which earns 16% interest per annum
compounded quarterly. To date, the company has made eight equal quarterly
deposits into the fund. The cost of the machinery has just gone up to a total of R450
000 in three yearsâ€™ time. However, Randburg Ltd can now earn 20% per annum
interest compounded semiannually. All monies accumulated to date will from now
on earn a return of 20% per annum, interest compounded semiannually. What is the
increased semiannual deposit that Randburg Ltd will need to make instead of
quarterly payments, so that the fund will contain R450 000 in three yearsâ€™ time?
Posted Date: 4/8/2013 10:29:23 AM  Location :
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