You are saving to pay for your daughter’s university fees in 20 years’ time. Your saving deposit the first year is R3 600, after which your yearly deposits increases by R360 each year. If the expected interest rate is 10% per year, calculate the amount that you expect to receive to the nearest ten rand on the maturity date.

[Answer format: Rddd ddd (R: rand; d: digit)]

[Example of an answer in the correct format: R123 450]

Ensure that your answer is typed in the correct format otherwise you will forfeit the mark!