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Perkins Fuentes
01/11/2024 · Middle School

Zach likes to travel. He has saved R5 000 as spending money for his vacation in Australia at the end of 2018 . 4.2 Assume that the average annual rate of inflation in South Africa will be \( 6,1 \% \) over the next 3 years. In 2018 , what amount of money will be equivalent to the value of R5 000 now? 4.3 Zach plans to invest equal amounts into a savings account on 1 December 2016 and on 1 December 2017 to have accumulated an amount of R5 980 by 1 December 2018 . If this account earns interest at \( 9 \% \) p.a. compounded annually, how much money should Zach deposit into the account on each occasion?

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4.2 The equivalent value of R5,000 in 2018 is approximately R4,192.66. 4.3 Zach should deposit approximately R2,625.56 on each occasion to accumulate R5,980 by 1 December 2018.

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