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7 . 3 Allen invested an amount of R 2 0 0 0 0 on 1 January 2 0 1 5 , at an interest

7.3 Allen invested an amount of R20000 on 1 January 2015, at an interest rate of
10,3% p.a. compounded monthly. At the start of the second year, he deposited R15000
into the same account but the interest rate increased to 11,5% p.a. compounded
monthly. At the end of the third year, he withdrew a certain amount of money from his
savings and kept the rest of the money in his account for a further 2 years at an interest
rate of 16,8% p.a. compounded quarterly.
7.3.1 What was the balance of his investment on 31 December 2015?
7.3.2 How much money, to the nearest rand, did he withdraw at the end of the third
year, given that his final bank balance at the end of the fifth year was
R30183,64?
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