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Mrs Rethabile invested an amount of R150 000 to buy a drilling machine for her engineering company. Interest, compounded quarterly, is calculated at a rate of 10,5% p.a. for 5 years. At the end of the third year, Mrs Rethabile withdrew an amount of R30 000 from the investment account and then continued investing the balance for the remaining period. Determine the value of the investment at the end of the investment period.
in Grade 12 Technical Maths by Diamond (40.1k points) | 9 views

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I = P x R xT = R150000 x 10.5/100 x 3 = R47250 After 3 years she had R150000 + R47250 = 197250 After withdrawal principal amount is R197250- R30000 = R167250 I = P x R xT = R167250 x 10.5/100 x 2 = R35 122.50 Total amount after 5 years = R167 250 +R351 22.50 = R202 372.50.
by Bronze Status (5k points)
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A = P (1 + i )^n

After the first year

A = 150 000 ( 1 + 0.105)^1  = 165 750

then withdrew 30000 = 165 750 - 30000 = 135 750

After then rest of the time ( 4 years)

A = 135 750 (1 + 0.105 )^4

A=R202 389.95
by Wooden (3.5k points)

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