CALCULATING INTEREST ON. CHANGING BALANCES
Josh
opens a savings account with R13 500. The account
pays 6.75%.pia compounded monthly.
1. What will the balance in the account be after 4 months?
Suppose Josh withdraws R2000 from the account at the
end of the third month. How much will be in the account
at the end of the fourth month?
1.2
1.3 Suppose Josh deposits R2 3000 at the end of the fourth
month, Calculate the balance in his account at the end
the sixth month.
2. Kate
Kate opener a savings account with a
R60 000. The bank o
of 15% per annum
ffers her
P.
deposit of
of
simple interest rate
over 60 months. "Calculate the
amount she will get from the bank at the end of
60 months
if
all she withdraws R8000 from the account after 2 years
2.2 She deposits an
additional RIS 000. after 2 years.
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