One of the many investment options in South Africa is the stokvel option. TABLE 2 below shows two stokvel plans (Plan A and Plan B) over a 24-mouth period. TABLE 2: TWO STOKVEL PLANS un UNITED AFRICAN STOKVEL PLAN A (MONTHLY FIXED TERM PLAN) PLAN B Choose how long you want to save for. (ONCE-OFF SAVING PLAN) Choose how long you want to save for Saving period: 24 months Saving period: 24 months How much do you want to save How much do you want to save once- monthly? off? Monthly contributions: R2 500 Total amount at the end of 24 months: R74 286.84 Once-off amount: R60 H00 Total amount at the end of 24 months: R92 065,71 (Adapted from http://us.co.zal Use TABLE 2 above to answer the questions that follow 1.2.1 1.2.2 1.2.3 1.24 Define investment in the given context. Investment is an et or ite acquired with the gool of Calculate the total contributions for Plan A over the 24-month period. 2600x24 60000 Calculate the interest earned if a person invests in Plan B over the 24-month period 24 60 000 x 100 = 14400 Determine how much more interest a person will earn investing in Plan B compared to investing in Plan A over the same 24-month period​