On the day Charlie was born his father started saving for university by placing R1000 every month into a savings account that earns 6% interest p.a compounded monthly. His father makes the last payment the month before Charlie's 18th birthday and presents his son with his savings on his 18th birthday. How much money will Charlie have for university?
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18-06-2024
Mathematics

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On the day Charlie was born his father started saving for university by placing R1000 every month into a savings account that earns 6% interest p.a compounded monthly. His father makes the last payment the month before Charlie's 18th birthday and presents his son with his savings on his 18th birthday. How much money will Charlie have for university?
Show method if Answer=R389 260

Sagot :

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