Question

Question 11
Xolisile and Xolani are twins. To reward them for passing matric well, their parents gave them
R20 000,00 each. Each one of them decided to invest three quarters of their money for a period of
three years. Xolisile invested her money at a simple interest rate of 6,5% per annum. Xolani invested
her money at an interest rate of 6,5% per annum, compounded annually. What is the difference
between the values of the two investments at the end of the period?
[1] R194,24
[2] R295,07
[3] R1 072,12
[4] R2 144,24​

Answer 1

Answer:

4 2144 . being the difference of 200000x ( (1.065^3) and 1.195)