Sophie is determined to be financially free as soon as possible. She knows that saving...
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Finance
Sophie is determined to be financially free as soon as possible. She knows that saving and investing are one of the strategies to follow. In her first month of work, she decides to start saving 20% of her salary of R25 000 on a monthly basis. She invests this into a savings account that pays 4% interest compounded monthly. How much will she have saved after 5 years of investing?
Complete the table below, type in the correct amount/percentages/compounding periods as may be required in the blank cells. Ensure that the correct units of measurement are used for example R,%, months as may be required.
Example
| P/YR | Your Answer |
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