Answer:
i) 11500
ii) 63 months
Step-by-step explanation:
i)
1st month savings = 500
other 11 months = 1000
11×1000=11000
total months (12) = 500 + 11000 = 11500
ii)
1 year savings = 11500
for 60 months(5years) = 57500
6th year,
1st month = 500
2nd month = 1000
3rd month = 1000
finally we got 60000
therefore total month is 60 +3 = 63.