2.1
Mavis borrows R 15 000 from her friend, Gladys, to finish an order for her customers. Gladys offers the
following:
The loan plus 12% simple interest per annum to be paid back for 3 years.
Use the information above to answer the questions that follow.
2.1.1 Calculate how much Interest Mavis will pay after a year.
2.1.2 Calculate the total interest paid after 3 years.
(2)
(2)
2.1.3 Determine the final amount Thabo would have paid back after 3 years.
(2)
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