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Maurice received a cash amount of R1 000 for a casual job that he did for a fri...
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Maurice received a cash amount of R1 000 for a casual job that he did for a friend. Should he invest this R1 000 in an account at Coptic Bank that has indicated that an annually compounded interest rate of 7,9% per annum would be earned, what will the value of his investment be after five years? Set your calculator to four decimal places and round your final answer to the nearest rand. If s light rounding differences occur - choose the alternative that is closest to your answer.
(a) R18 377
(b) R 1 463
(c) R 684
(d) R 1 578
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