I won R15 000.00 on the Lotto. I have decided to invest the money for three years so I can earn some interest. The bank has offered me 10% interest . I now need to decide if I want to use my monthly...

I wonR15 000.00 on the Lotto. I have decided to invest the money for three years so I can earn some interest. The bank has offered me10% interest. I now need to decide if I want to use my monthly simple interest payments or if I should compound the interest. Please calculate the compound interest:

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Amount at the beginning of the 1st year

Interest(10% of R ____________)

Amount at the beginning of the 2nd year

Interest(10% of R ____________)

Amount at the beginning of the 3rd year

Interest(10% of R ____________)

Amount at the end of the 3rd year

R15000.00

Jun 03, 2022

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I won R15 000.00 on the Lotto. I have decided to invest the money for three years so I can earn some interest. The bank has offered me 10% interest . I now need to decide if I want to use my monthly...

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