Question 1 Joshua graduated from college and began working in the family restaurant business. At the end of the third month of the first year he began putting R7 440,00 per quarter in an individual retirement account and contributed to it for a total of ten years. The account earned interest at 11% per annum, compounded quarterly. The amount that was available to him after the ten years is [1] R1614 466.15. [2] R179141,07. [3] R22 021,46. R530 235,00 Question 2 Upon their retirement in a meeting with their advisor, mr and mrs Moraba determined the amount that they will need in order to live comfortably. They expect a 20-year retirement period. How much should mr and mrs Moraba deposit now in a bank account paying 7,5% interest per year, compounded yearly to be able to withdraw the amount of R480 700 at the end of each year, starting one year from now? [1] R20816560,32 [2] R2041 942,02 13] R4900 492,00 R1 201 750,00
