Discussion
Depositing 20 000 annually for 10 years at 8 per cent accumulates to about
Answer: C
Correct answer: 289 700
\[ F = 20\,000 \times \frac{(1.08)^{10} - 1}{0.08} = 20\,000 \times 14.487 \] \[ = 289\,700. \] The deposits total 200 000, so nearly 90 000 is interest - a much larger share than in the five-year case, because the earlier deposits have twice as long to compound.
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