Mia Benson invested her summer earnings of R3 000 in a savings account which pays 2.5% interest. How much will this amount to in 6 months?
FV=PV(1+r)nFV=PV(1+r) ^n\\FV=PV(1+r)n
after 6 months:
FV=3000(1+0.025)1/2=R3037.27FV=3000(1+0.025) ^{1/2} =R 3037.27FV=3000(1+0.025)1/2=R3037.27
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