Bongani deposits R2000 at the end of each year into a retirement annuity that earns...
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Finance
Bongani deposits R2000 at the end of each year into a retirement annuity that earns 6.85% per annum compounded annually. Due to a change in employment, these deposits stop after 10 years, but the account continues to earn interest until Bongani retires 25 years after the last deposit is made. How much is in the account when Bongani retires?
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