Questions 1 and 2 are based on the
following information:
Kariem deposits R900 into a savings
account paying 6,5% interest per year,
compounded quarterly. After three
and a half years he withdraws R71 000
from the account and deposits it into
a second account paying 11% simple
interest per year.
A number of years after Kariem
deposited the R1 000 into the
second account, the accrued amount
in the second account is R1 605. The
time (correct to two decimal places)
the money was invested for, is
() a. 4,36 years.
() b. 4,53 years.
O c. 9,31 years.
d. 5,50 years.
Clear my choice
following information:
Kariem deposits R900 into a savings
account paying 6,5% interest per year,
compounded quarterly. After three
and a half years he withdraws R71 000
from the account and deposits it into
a second account paying 11% simple
interest per year.
A number of years after Kariem
deposited the R1 000 into the
second account, the accrued amount
in the second account is R1 605. The
time (correct to two decimal places)
the money was invested for, is
() a. 4,36 years.
() b. 4,53 years.
O c. 9,31 years.
d. 5,50 years.
Clear my choice
