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R2 500 is invested at 7% interest per annum for 4 years. Determine the amount available if:

  1. simple interest is paid.
  2. compound interest is paid.
in Grade 10 Maths Literacy by Platinum (112k points) | 55 views

1 Answer

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1. A=P (1+in)

=2 500 (1+0.07×4)=R3 200

2. A=P (1+0.07)^4

=2 500 (1+0.07)^4=R3 276.99
by Diamond (84.9k points)

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