Aimee has just signed a 5-year contract to work for one of the top consulting companies in the country. The Human Resour

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answerhappygod
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Aimee has just signed a 5-year contract to work for one of the top consulting companies in the country. The Human Resour

Post by answerhappygod »

Aimee has just signed a 5-year contract to work for one of the
top consulting companies in the country. The Human Resources
Manager has informed Aimee that they will deposit R20 000 today
into her retirement fund and make annual deposits for five years,
upon which she will have R100 000. The Retirement Fund interest
rate is 12% p.a. compounded annually. Calculate the annual payments
that the company will make into Aimee’s retirement fund account
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