Answer to Question #146358 in Finance for Tankiso

Question

.1.What will my investment of R100 500 be worth if my bank pays me simple interest of 9% per annum and I invest my money for 180 days?

Answer 1

Your investment worth after 180 days:

= Investment + Interest

$= 100500 + (100500 \times 0.09 \times \frac{180}{365})$

= 100500 + 4461

= 100961

Answer: R100961