uestion 3 15 marks 27 minutes A retirement plan guarantees to pay you or your...
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uestion 3 15 marks 27 minutes A retirement plan guarantees to pay you or your estate a fixed annual amount for 20 years. At the time of retirement you will have N$ 313 600 to your credit in the plan. The plan anticipates earning 10% annually over the period you receive benefits. How much will your annual benefits be assuming the first payment occurs 1 year from your retirement date? (5 marks) a) b) A student managed to acquire an interest free-loan of NS 80 000. After completing her dies and beginning to work, she saves NS 15 000 every year and invests the amount at 12.5% per annum compound interest. What additional amount is required to fully repay the loan after four years of saving? (10 marks)
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