QUESTION $2$

$(25$ marks$)$

$2\mathrm{.}1$ You deposit R$10000$ in a bank account which is paying $4\mathrm{.}8\%$ per year, interest compounded annually.

$2\mathrm{.}1\mathrm{.}1$ How much will you have accumulated in the account in $5$ years?

$(3$ marks$)$

$2\mathrm{.}1\mathrm{.}2$ What will you have accumulated if the interest rate is compounded monthly?

$(4$ marks$)$