Here is an example I did of the problem hope it helps let me know if you need anything else~!
~<span>Cecildoesscience </span>
Answer:
He must invest R297 521 today.
Step-by-step explanation:
The compound interest formula is given by:

Where A(t) is the amount of money after t years, P is the principal(the initial sum of money), r is the interest rate(as a decimal value), n is the number of times that interest is compounded per year and t is the time in years for which the money is invested or borrowed.
Banabas must pay his ex-wife an amount of R350 000 in two years’ time.
This means that 
Interest rate of 8.15% per annum compounded monthly:
This means that
.
Amount he must invest today:
This is P. So




He must invest R297 521 today.
Answer:
Yes one should consider to buy the policy as important to have insured plan that help at the time of need.
Step-by-step explanation:
- Term of life insurance is a form of life insurance which guarantees the payment of the stated death benefit. If the person des during the plan the term expires.
- The policy has no value other than guarantee benefits. The term life insurance will make products by selling products and thus it's necessary to have insurance. Health, age, and life expectancy are some of the points that need to consider for buying plans.