4.4 Today is Michaelas birthday. She received a total of R2 000 cash as presents from her friends and family. She wants to invest this money and decided on a fixed term bank deposit for six years at an annual compounded interest rate of 16%. Calculate the value of her investment at the end of year six. (5)

4.5 Suppose that R25 000 amounts to R37 500 in 6 years with interest compounded monthly. Indicate what annual rate of compound interest has been used. (3)

4.6 How long will it take R30 000 to amount to R50 000 if interest is at 4% (3)