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At age 60, a man established R20 000 which will pay his family a regular amount at the end of each month for 12 years
At age 60, a man established R20 000 which will pay his family a regular amount at the end of each month for 12 years after his death. If he dies at age 65 , what monthly sum will the family receive if the fund earns 3% p.a. compounded monthly and if the first payment will be made 1 month after his death
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