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Sibiya decides that he would like to buy his lovely wife Patience a new car when she turns 30 in six years' time. He deposits
Sibiya decides that he would like to buy his lovely wife Patience a new car when she turns 30 in six years' time. He deposits R6 000 at the beginning of each month into an account earning 8,94% interest per year, compounded monthly. The amount that Sibiya (rounded to the nearest rand) will have available six years from now is
[1] R432 000.
[2] R333 412.
[3] R573 187.
[4] R335 896.
[5] R568 948.
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