3 years ago

What would my final balance be if i put R650 in the bank for 60 Months with an interest rate of 6%

1 answer:

7 0

60 months is 5 years
12 × 5 = 60

Interest = Principle amount × Rate × Time in years
= 650 × 0.06 × 5 (6% = $\frac{6}{100}$ = 0.06)
= R195

R650 + R195 = R845

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