Give your answer to this question correct to the nearest rand. Phindile invests R12 795,00 now and RX in eight months’ time. The investment earns interest at an interest rate of 11% per annum, compounded monthly. Phindile’s goal is to have R21 592,00 after one and a half year. What is the value of X? Explain the formulae used
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Give your answer to this question correct to the nearest rand. Phindile invests R12 795,00 now and RX
in eight months’ time. The investment earns interest at an interest rate of 11% per annum, compounded
monthly. Phindile’s goal is to have R21 592,00 after one and a half year. What is the value of X?
Explain the formulae used
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