KatExe4 KatExe4

09-11-2022
Mathematics

contestada

Richard wins R25000 in a competition. He invests it at 6.25% simple interest. After 4
years he withdraws R4000 for pocket money when travelling overseas with his family.
He re-invests the rest, but the interest rate is now 6% p.a. simple interest. Calculate the
amount available four years after the withdrawal.

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