A bonk uses the following formula to calculate the bank charges (transaction fee) on money deposited at a branch (inside the bank) Transaction fee \( -R 2,50+0.95 \% \) of the amount deposited. a) Use the above formula to calculate the benk fees on the following deposits: 1. R 450 11. R 117.35 iii. RG500000 b) Use this formula to see if the transaction tee of \( R 5.59 \) was correctly calculatecl from a deposit of \( R 325 \).

To calculate the bank charges (transaction fee) for the deposits, you can use the formula given: transaction fee = R 2.50 + 0.95% of the amount deposited. 1. For a deposit of R 450: Transaction fee = R 2.50 + (0.0095 * R 450) = R 2.50 + R 4.275 = R 6.775. 2. For a deposit of R 117.35: Transaction fee = R 2.50 + (0.0095 * R 117.35) = R 2.50 + R 1.113825 ≈ R 3.613825. 3. For a deposit of R 500,000: Transaction fee = R 2.50 + (0.0095 * R 500,000) = R 2.50 + R 4,750 = R 4,752.50. For part b, to see if the transaction fee of R 5.59 is correct for a deposit of R 325: Transaction fee = R 2.50 + (0.0095 * R 325) = R 2.50 + R 3.0875 = R 5.5875, which rounds to R 5.59. So, yes, it was calculated correctly! When it comes to banking fees, you'll find that transparency matters! It’s essential to understand how your money is being charged, especially with percentages that can sneak up on you. Always read the fine print to avoid any surprises. If you're new to managing banking fees, utilizing financial apps to keep track might just be your best bet! These tools can help highlight any fees or charges, allowing you to budget better and ultimately save more. Stay informed and proactive in your financial journey!