2. John deposits R500 into a savings account. At the thereafter, he deposits R500 into the account and continues to do this for six years. Interest is 7% per annum compounded monthly.Calculate the future value of his investment at the end of the six-year period.

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19-06-2024
Mathematics

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2. John deposits R500 into a savings account. At the thereafter, he deposits R500 into the account and continues to do this for six years. Interest is 7% per annum compounded monthly.Calculate the future value of his investment at the end of the six-year period.

Sagot :

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2. John deposits R500 into a savings account. At the thereafter, he deposits R500 into the account and continues to do this for six years. Interest is 7% per annum compounded monthly.Calculate the future value of his investment at the end of the six-year period. ​

Sagot :

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2. John deposits R500 into a savings account. At the thereafter, he deposits R500 into the account and continues to do this for six years. Interest is 7% per annum compounded monthly.Calculate the future value of his investment at the end of the six-year period.