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QUESTION THREE [20] 3.1 Every year, after paying all her extra bills and treating herself to a few luxuries, Ruby still has R4 200 in her bank account from her yearly bonus. She wants to save this money and has decided to deposit it annually for the next three years. She chose a special savings account with a 12% yearly compounded interest rate. Determine the total. value of Ruby's special savings account at the end of year three. (5) 3.2 Nomzamo will make an annual investment of R3 900 for the next 4 years. She will earn a 14 % annually compounded interest rate. Determine the current worth of Nomzamo's investment. (5) 3.3 Frank wants to invest a sum of money now that will be worth R10 000 in five years. The investment has a compounded interest rate of 12% per annum Calculate how much Frank will need to invest now in order to obtain R10 000 at the end of the fifth year. (5) 3.4 On her birthday Michelle received a total of R2 000 in cash as gifts. She wants to invest this money and decided on a fixed term bank deposit for six years at an annual compounded interest rate of 16%. Determine the value of her investment at the conclusion of the sixth year