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For the purposes of the example that we have used, we have assumed that your child’s school fees are R5 000 per month for 11 months and that the school has offered you an upfront discount of 10% if you pay in full at the beginning of the year. We have further assumed that you will borrow your money from your access bond at an interest rate of 7% per year.
Source: News Formal (newsformal.com)
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