The amount that should be in Nickey's savings account immediately after her last deposit on September 30, 2012, using the future value concept, is <u>R15,282.91</u>.
<h3>What is the future value?</h3>
The future value refers to the compounded value (at an interest rate) of the present value, including the periodic cash investments, over a period.
The future value can be determined using either the future value formula, future value table, or an online finance calculator, as below.
<h3>Data and Caluclations:</h3>
N (# of periods) = 18 months
I/Y (Interest per year) = 15%
PV (Present Value) = R1,000
PMT (Periodic Payment) = R 700
Results
FV = R15,282.91 (R12,600 + R1,000 + R1,682.91)
Sum of all periodic payments = R12,600 (R700 x 18)
Total Interest = R1,682.91
Thus, the amount that should be in Nickey's savings account immediately after her last deposit on September 30, 2012, using the future value concept, is <u>R15,282.91</u>.
Learn more about determining future values at brainly.com/question/24703884
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