Let's go step by step.
### 1.10 Determine the total bank charges for this period.
The total bank charges for this period include the interest charged and the transaction fees. Given the data:
- Interest charged: R22.51
- Transaction fees: R8.90
So, the total bank charges for the period are:
[tex]\[ \text{Total bank charges} = \text{Interest charged} + \text{Transaction fees}
= R22.51 + R8.90
= R31.41 \][/tex]
Therefore, the total bank charges for this period are R31.41.
### 1.11 What is the closing balance on the statement?
The given result indicated the closing balance. So, the closing balance for this period is R2912.51.
### 1.12 Is the closing balance a debit or credit balance? Explain your answer.
The closing balance is evaluated to be R2912.51.
A 'credit' balance means you have a positive amount in your account, which you owe to the bank (as your account is in credit). A 'debit' balance means you have a negative balance, indicating you are overdrawn.
Since the closing balance is positive (R2912.51), it is a credit balance. Hence, the closing balance is a credit balance, meaning you have a positive balance in your account.
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### 2.1 Determine the 'payments and credits' value, if the client paid 25% of the closing balance of the previous month's statement.
The previous month's closing balance is given as the balance brought forward, which is R2000.80.
[tex]\[ \text{Payments and credits} = 25\% \text{ of previous closing balance}
= 0.25 \times R2000.80
= R500.20 \][/tex]
Therefore, the 'payments and credits' value is R500.20.
### 2.2 Calculate the closing balance.
To calculate the closing balance, we need to factor in the:
- Balance brought forward: R2000.80
- Payments and credits: R500.20 (deducted)
- Purchases and debits: R1380.50
- Interest charged: R22.51
- Transaction fees: R8.90
First, we find the total debits:
[tex]\[ \text{Total debits} = \text{Purchases and debits} + \text{Interest charged} + \text{Transaction fees}
= R1380.50 + R22.51 + R8.90
= R1411.91 \][/tex]
Now, we compute the closing balance:
[tex]\[ \text{Closing balance} = \text{Balance brought forward} - \text{Payments and credits} + \text{Total debits}
= R2000.80 - R500.20 + R1411.91
= R2912.51 \][/tex]
Therefore, the closing balance is R2912.51.
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### 3.1.1 How much will it cost the client to deposit the cash at the bank?
Unfortunately, the details required to answer this question (i.e., transaction fee structure from p. 96) are not provided. Please refer to the transaction fee structure on p. 96 to find out the specific costs for depositing R350 into the account.
