Nicky opened a savings account with a single deposit of R1 000 on 1 April 2011. She
then makes 18 inonthly deposits of R700 at the end of every month. Her first payment
is made on 30 April 2011 and her last payment on 30 September 2012. The account
earns interest at 15% per annum compounded monthly.
Determine the amount that should be in her savings account inmediately after her last
deposit is made (that is on 30 September 2012).
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