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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
Allen invested an amount of R on January at an interest rate of
pa compounded monthly. At the start of the second year, he deposited R
into the same account but the interest rate increased to pa 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 years at an interest
rate of pa compounded quarterly.
What was the balance of his investment on December
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
R
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