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12 I have just joined a savings scheme. I will pay in 50 each month and at the end of each complete year I will

12 I have just joined a savings scheme. I will pay in 50 each month and at the end of each complete year I will be paid 5% interest on my average balance (i.e. the average of my starting and finishing amount) for the previous 12 months. How much will I have in total when my interest has been paid at the end of the second year? (Answer to the nearest 10.) 1230 1260 1290 1380 I'I'IUC'DWJ> 1990

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