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If you deposit R500 into an account yielding 4% per month, What is the future value after 60 months if your deposit increases with 2.5%

If you deposit R500 into an account yielding 4% per month, What is the future value after 60 months if your deposit increases with 2.5% per month from end of month 2? Assume end of month deposits.

  • A.R204,632
  • B.R203,995
  • C.R205,660
  • D.R202,998

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