1. A savings account is opened with an initial deposit of R5 000 . One year later, a further R2 200 is added to the account. Six months after the second deposit, R1 000 is withdrawn from the account. The interest on the savings is 9% p.a., compounded monthly. Calculate the balance in the savings account at the end of two years. 2. Sisekelo plans to save R80 000 in four years, as a deposit on a house. He deposits equal amounts of money at the beginning of each year for four years. Interest on the savings is 8% p.a., compounded monthly. Calculate how much money he will need to deposit each year to achieve his objective