2.1 Mrs Haindongo invented N$6000 at 7% p.a. for three years in a fixed deposit account with Global Bank. If simple interest is paid at the end of three years on this deposit: a) How much money altogether will be paid out to Mrs Haindongo on maturity (i.e at the end of three years) b) How much interest was earned over the three years?

2.2 Mr Usiku invested N$ 6000 in a fixed deposit account with the Global bank for the three years at the rate of interest of 15% p.a. a) How much will Mr Usiku receive upon maturity if interest is compounded bi- annually? b) How much will Mr Usiku receive upon maturity if interest is compounded quarterly?

2.3 A father would like to give his daughter a cash gift of N$ 20 000.00 on her 21st birthday in exactly four years' time. How much must be deposit today in a fixed deposit account that pays 9% p.a compounded monthly to reach this target?