1.9 Nazeem has deposited into his bank account an amount of R4 000 which he won on the Lotto. He wishes to quickly calculate the amount of simple interest that he will earn after five years and will use 6% as simple interest rate. Calculate the amount of simple interest that he will earn after five years. [Use four decimal places for your calculations and round your final answer to the nearest rand. Choose the alternative closest to your answer if you do not arrive at the exact alternative due to rounding differences.] a) R240 b) R1 200 c) R5 200 d) R5 353 (2) 1.10 Bazil wants to calculate the nominal rate of a loan that he is interested in obtaining from ABC Bank. He already knows that the effective rate of the loan is 5,00% per annum and that interest is compounded every six months Which one of the following answers is the correct nominal rate? [Use four decimal places for your calculations and round your final answer to two decimal places.] a) 4.94% b) 2,50% c) 5,06% d) 4,89% (2) [20]