WEEK SECTION
INTEREST
Interest: The
amount of
money that
you are
charged (by
the lender of
money, e.g.
the bank) for
borrowing an
amount of
money, over a
period of time.
Interest rate:
A percentage
charged for
the borrowing,
or loan, of a
sum of money
over a given
period of time.
ACTIVITY
Worksheet 4
4.1. Thabo borrows R 15 000 from his friend, George, to finish an
order for his customers. George offers the following:
The loan plus 12% simple interest per annum to be paid back for 3
years.
a) Calculate how much Interest Thabo will pay after 1 year.
b) Calculate the total interest paid after 3 years.
c) Determine the final amount Thabo would have paid back after 3 years
4.2. Study the graph and answer the questions that follow:
interes earned (R)
80
70
60
50
3238 우유 유
40
30
20
10
0
Financial growth
100
200
300
400 500
600
700 800
Amount invested (R)
​