Question

With a deposit of R1200, Deborah opened a savings account paying 5.8% interest annually, compounded monthly. She urgently withdrew a sum of R800 after 5 years. How much will she have accrued in her travel account four years after withdrawal the R800. The amount must be rounded off to the nearest rand

Answer 1

Answer;With a deposit of R1200, Deborah opened a savings account paying 5.8% interest annually, compounded monthly. She urgently withdrew a sum of R800 after 5 - 23248… ... withdrew a sum of R800 after 5 years. How much will she have accrued in her travel account four years after withdrawal the R800.