On 29 March 2021, Justin deposited R3 500 into a savings account. The simple interest rate agreed upon was 7,5% per year. The accumulated amount in the savings account on 10 October 2021 is [1] R3 640,24. [2] R3 643,09. [3] R3 637,88. [4] R3 649,06. [5] none of the above
On 29 March 2021, Justin deposited R3 500 into a savings account. The simple interest rate agreed upon was 7,5% per year. The accumulated amount in the savings account on 10 October 2021 is [1] R3 640,24. [2] R3 643,09. [3] R3 637,88. [4] R3 649,06. [5] none of the above
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 36P
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On 29 March 2021, Justin deposited R3 500 into a savings account. The simple interest rate agreed upon was 7,5% per year. The accumulated amount in the savings account on 10 October 2021 is
[1] R3 640,24.
[2] R3 643,09.
[3] R3 637,88.
[4] R3 649,06.
[5] none of the above
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