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23 Joy Invest stokvel club has a Nedbank stokvel account offering 7,50% interest p.a. compounded monthly. The club's details are as follows: Number of members: 8 Monthly contribution: R1 500 per member Number of months: 11 (January to November) NB: The amount (total contributions, together with interest earned), is shared equally by the members in the second week of December. TABLE 2 in ANNEXURE C shows the growth of Joy Invest Stokvel Club's investment Use TABLE 2 in ANNEXURE C to answer the questions that follow. 23.1 Calculate, without rounding off, the monthly interest rate. (2) 23.2 Determine the missing values A and B. (4) 2.3.3 Calculate the share each member receives at the end of the year when dividing the total amount (2) [29]
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