Questions 3 is based on the following situation: On 5 April Anzani invested R75 000 in an account paying 8,37% interest per year, compounded monthly. Interest is credited on the 1st of every month. Anzani wants to open a Wheel and Tyre shop in Pretoria CBD. She will move into her new premises on 21 November of the same year.

Question 3.1 If simple interest is used for odd period calculations and compound interest for the full term, then the amount of money that Anzani will have available in the account on 21 November is

[1] R79 020,96.

[2] R79 002,95.

[3] R79 018,82.

[4] R78 195,04.

5] R78 955,68.

Question 3.2 If fractional compounding is used for the full term then Anzani will receive

[1] R79 020,29.

[2] R78 439,73.

[3] R79 047,39.

[4] R78 896,69.

[5] R79 027,82.