Mac2602 full exam pack Study guides, Class notes & Summaries

OCT/NOV 2014 QUESTION 1 (15 marks) (18 minutes) (1) Mxolisi has deposited an amount of R1 500 in a bank account. This account earns simple interest of 8% per annum. REQUIRED: Calculate the amount of interest that he will earn after 2 years. Show detailed workings. [Use four decimal places for your calculations and round your final answer to the nearest rand.] (2) a) Every year after Mary has paid all her additional expenses and treated herself to some luxuries she still has R4 200 from...

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(1) Mxolisi has deposited an amount of R1 500 in a bank account. This account earns simple interest of 8% per annum. REQUIRED: Calculate the amount of interest that he will earn after 2 years. Show detailed workings. [Use four decimal places for your calculations and round your final answer to the nearest rand.] (2) a) Every year after Mary has paid all her additional expenses and treated herself to some luxuries she still has R4 200 from her annual bonus available in her bank account. S...