Question: Read the information below and answer the questions that follow. INFORMATION You deposit R10 000 in a bank account which is paying 4.8% per

Read the information below and answer the questions that follow. INFORMATION You

Read the information below and answer the questions that follow. INFORMATION You deposit R10 000 in a bank account which is paying 4.8% per year, interest compounded annually. REQUIRED 1.2.1 How much will you have accumulated in the account in 5 years' time? 1.2.2 What will you have accumulated if the interest rate is compounded monthly? (2 marks) (3 marks)

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