Question #192437

Phathu needs R10 500 in ten months' time to buy herself a new lens for her amera. Two months ago she deposited R9 000 in a savings a ount at a simple interest rate of 11,5% per year. How mu h money will Phathu still need to buy the lens ten months from now?

[1] R465,00

[2] R229,50

[3] R637,50

[4] R408,67

[5] None of the above


1
Expert's answer
2021-06-09T14:34:42-0400

A=P×R×TA=P×R×T

Where A=principal

R=rate

T=time

9000×11.5100×12=124201242010500=19209000×\frac{11.5}{100}×12\\=12420\\12420-10500\\=1920


[5] None of the above


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