On his 40th birthday Ofentse decides he will buy a bike trailer for his 50th birthday. He estimates that it will cost him R48000 when he turns 50. He starts saving immediately each month paying an amount into an account earning 8,58% interest per year, compounded monthly. The monthly payment is 11 R592,95. 121 R597.19. 131 R252.18 141 R253,99