Suppose you save R500 on the first day of each month for 6 months at 12% annual interest rate, compounded monthly, and then only put R200 on the first day of each month starting from the 7th month for another 6 months at the same interest rate

Business Dec 11, 2021

Suppose you save R500 on the first day of each month for 6 months at 12% annual interest rate, compounded monthly, and then only put R200 on the first day of each month starting from the 7th month for another 6 months at the same interest rate. How much money will you have at the end of the 12th month? (8)