2.9.4. Ramil invested R12 000 into a savings account. He was given an interest rate of 10% per annum
compounded quarterly for three years. Two years after the initial
investment he deposited a
further R5 000 into the savings scheme. The interest rate changed
to 10.8% p.a. at the start
of the
4th year compounded semi-annually. He kept his money for a further
two years at an interest rate
of 12% per annum compound interest. Determine the
value of the investment after 6 years.

Question

Thandontshalintshaliidn Thandontshalintshaliidn

07-08-2024
Mathematics

Answered

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2.9.4. Ramil invested R12 000 into a savings account. He was given an interest rate of 10% per annum
compounded quarterly for three years. Two years after the initial
investment he deposited a
further R5 000 into the savings scheme. The interest rate changed
to 10.8% p.a. at the start
of the
4th year compounded semi-annually. He kept his money for a further
two years at an interest rate
of 12% per annum compound interest. Determine the
value of the investment after 6 years.

Sagot :

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