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it is divided by 12 months, but when you add the interest at the end of the year, it will likely be more than R 66 500 as it will be compounded monthly, unless the interest rate decreases during the 12 month period....
Can someone explain to me in simple terms... So R1 000 000.00 in 32 day at an interest of 6.65% will pay out R66 500.00 does this mean you get it every month as is or the R66 500.00 is divided by 12 months?