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2 . 2 You currently have R 1 0 , 0 0 0 in a savings account that pays 1 % interest each month and
You currently have R in a savings account that pays interest each
month and has monthly bank charges of R You add R each month starting
at the end of the seventh month.
Derive a model for the amount in the bank account at any point in time.
Determine the amount in the account at the end of two years and a half.
Determine how long it would take for the amount in the account to reach
R
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