English, 01.12.2020 16:00 algahimnada
Mark Brown is starting a new job and will be earning a salary of 2000 euros per month. He is new to the country and does not have a bank account. Throughout the years he was able to save 35,000 . He plans to buy a car in 6 months time (budget 10,000). He also would like to have funds available in case of an emergency (3 months income). He has no plans with the money in the next 3-5 years.
Savings account rate 1.5%
Term Deposit 2.5% 2 years
Term Deposit 4% 3 years
Include compounding interest calculations (show your work) to show mark the maturity value of his investments upon maturity date.
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