Mathematics, 05.04.2021 18:50 Jasten
Accounts and simple interest
Cyril opens a saving account at the bank. He deposits R3000. Each year he gets
simple interest of R360.
a) How much money will Cyril have after five years?
b) How many years will it take his money to double
Jessica borrows R5000 from her parents to pay for a sector. They say she
can pay them back in five years' time when she is working and they agree
that the interest rate will be 3% per year for the period of the loanā
Answers: 1
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Accounts and simple interest
Cyril opens a saving account at the bank. He deposits R3000. Each year...
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