A mother wants to give her two children curently aged 8 and 5 money for their birthdays. She wants to give them each R5000 at 13, R7000 at 16, and R10 000 at 18. The bank is offering her interst of 11,2% p.a compounded monthly. What must she invest now so that the children can get teir future birthday presents.

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Does she invest every year, or just a single year?

She invests just once

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