Question
Find the future value (to the nearest rand) of a series of payments of R1 each, payable for 1 year at the beginning of each week, assuming an effective interest rate of 20% per annum (compounded weekly) and 52 weeks in a year.
R 54
R 58
R 57
R 52
None of the above
R 54
R 58
R 57
R 52
None of the above
Answers
GPT 3.5
R 57