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Gladys received a total of R2 000 cash as presents from her friends and family ...
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Gladys received a total of R2 000 cash as presents from her friends and family on her birthday. She wants to invest this money and decided on a fixed term bank deposit for six years at an annual compounded interest rate of 16%. Calculate the value of her investment at the end of year six by using a mathematical formula or financial calculator. Set your calculator to four decimal places and round your final answer to the nearest rand. light rounding differences occur - choose the alternative that is closest to your answer.
(a) R 4 873
(b) R 2 342
(c) R13 920
(d) R33 915
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