1. A young man decides to invest money each month into a pension fund, starting on his 30th birthday and ending on his 60th birthday. He wants to have R1,5 million on retirement. If the interest rate is 14% p.a., compounded monthly, what will be his monthly payments?
2. Square Books Jr had net sales of $107,582 for August. On August 1, the inventory at retail was $35,169, and on August 31, the inventory at retail was $28,437. Find the average inventory at retail and the turnover rate at retail for August.
3. Develop a single formula that will show how to find annual depreciation using the straight-line method of depreciation.