- Reitumetse starts work and at the end of each month she deposits R500 into a savings account. Calculate how much money she will have accumulated at the end of six years if the interest on the savings is 8% p.a. compounded monthly.
- Jenna invests R20 000 into a savings account. The interest paid on money in the account is 15% p.a. compounded monthly. Calculate how long (in years and months) it will take for the savings to reach R100 000
- Diane invests a lump sum of R5 000 in a savings account for exactly 2 years. The investment earns interest at 10% p.a., compounded quartely.