Tamine makes a deposit of R1000 into an investment account that pays 10% annual interest. How much

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Tamine makes a deposit of R1000 into an investment account that pays 10% annual interest. How much is in the account after 10 years if

(a) the account earns simple interest?

(b) The account earns interest compounded annually (calculate the compound interest for 2 years).

c) The account earns interest compounded semiannually. (calculate the compound interest for 2 years)

Related Book For answer-question

Organic Chemistry

ISBN: 9780495112587

7 Edition

Authors: John McMurry

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Posted Date: Nov 02, 2023 04:41 AM

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Tamine makes a deposit of R1000 into an investment account that pays 10% annual interest. How much

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Expert Answer:

a For simple interest you can use the formula A P1 rt Where A is the final amount P is the principal ... View the full answer

Organic Chemistry

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