ON 5
18
An amount of R10 000 was invested for 4 years, earning interest at
compounded quarterly. At the end of the 4
years, the total amount in the account was
R13
080. Determine the value of r.
r p.a.,
A businesswoman deposited R9 000 into an account at the end of January 2014. She
continued to make monthly deposits of R9 000
at the end of each month up to the end
of December 2018. The account earned interest
at a rate of 7,5% p.a., compounded
monthly.
5.2.1
5.2.2
Calculate how much money was in the account immediately after
60
deposits had been made.
The businesswoman left the amount calculated in QUESTION 7.2.1 for a
further n months in the account. The interest rate remained unchanged
and no further payments were made. The total interest earned over the
entire investment period was R190 214,14. Determine the value of n.​