Reese Tucker
09/14/2023 · Middle School
Boitumelo invests an amount of R28 000 for a period of 7 years. For the first two years the interest was \( 12 \% \) p.a. compounded semi-annually. The interest was then changed to \( 10 \% \) p.a. compounded quarterly. Determine the value of the investment after the 7-year period.
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After 7 years, Boitumelo's investment will be approximately R57,924.
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