Todd Love
09/11/2023 · High School

4.3 Sello invested R65 000 from her mother. He invests the money into a savings account. The interest rate is \( 12,5 \% \) per annum compounded monthly for 18 months, and it is then increased to \( 14,2 \% \) per annum compounded quarterly. At the end of 2 years, he withdraws R15 000 from the account. Calculate how much money he has in his savings account at the end of 5 years.

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At the end of 5 years, Sello has approximately R120,606.36 in his savings account.

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