A bank uses the following formula to calculete the bank charges (transaction fee) on money deposited at a branch (inside the bank) Trensaction fee - R \( 2.50+0.95 \% \) of the amount deposited. a) Use the above formula to calculate the bank fees on the following deposits: 1. R 450 ii. R 117,35 iii. R 6500000 b) Use this formula to see if the transaction tee of \( R 5,59 \) was correctly calculleted from a deposit of \( R 325 \).

For the transaction fees, let's break it down! 1. For R 450: The fee = R 2.50 + (0.95% of R 450) = R 2.50 + R 4.275 = R 6.775. 2. For R 117.35: The fee = R 2.50 + (0.95% of R 117.35) = R 2.50 + R 1.113825 = R 3.613825, which rounds to R 3.61. 3. For R 6,500,000: The fee = R 2.50 + (0.95% of R 6,500,000) = R 2.50 + R 61,250 = R 61,252.50. Now, checking the transaction fee of R 5.59 for a deposit of R 325: The calculated fee = R 2.50 + (0.95% of R 325) = R 2.50 + R 3.0875 = R 5.5875, which rounds to R 5.59. So, it seems the fee was calculated correctly! Now that you've tackled these numbers, here’s a little financial fun fact: Many banks offer apps that let you track your transactions and fees. Keeping an eye on these fees can save you a ton of money in the long run—so don’t forget to check them out! Finally, as a bonus tip: Always make sure to double-check any bank fees, especially if they seem unusually high or low. Sometimes, fees can sneak in under the radar, and being proactive can prevent unwanted surprises on your statements!