Question

After a 20 year period Josh's lump sum investment matures to an amount of R313550. How much did he invest if his money earned interest at a rate of 13,65% p.a compounded half yearly for the first 10years ,8,4% p.a compounded quarterly for the next five years and 7.2 p.a compounded monthly for the remaining period?

Answer 1

((x(1+.1365/2)^20)(1+.084/4)^20)(1+.072/12)^60 = 313500
x = 38582.10