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Kai wants to open a restaurant and has been saving his money for 10 years. He finally has the $70000 he needs. If his account pays 8% interest compounded 12 times per year, how much money did he start with?
Type the formula you used to obtain this answer here: (This will not be marked, but it may help if you think you deserve part marks).
b) After 5 years, he already had more than half of the money he needed in his account
True
False
c) How much money was in his account after 2 years?
d) How much money would he have in his account if he waited 1 more years to start his business?
Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..
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