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Question 18

QUESTION 20

Mr Bennett borrows an amount of money for emergency car repairs. The interest on the loan is compounded monthly. After two years the debt accumulated by R3 980.00 to the amount of R13 923.00. The yearly interest rate, expressed as a percentage and rounded to two decimal places, at which the money was borrowed, is a. 14.12% b. 1.41% c. 16.95% d. 17.00% Relebogile has an education loan that was supposed to be paid in two payments of R1 637.00 due six months ago and R1 746.00 due in nine months from now. Instead, she of 9% per annum, compounded quarterly. This is represented on the following time line: w y yer dinnum, cumpurmuer quareriy The value of X, rounded to the nearest rand, is equal to a. R2 892. b. R2 798. c. R2 823. d. R2 784