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Welch Bernard
04/18/2023 · High School

Northern Cape Provincial Bank offers a savings account which receives \( 11,0 \% \) interest p.a. compounded monthly. Mark decides to open an account, and deposits R 3500 . His account accrues interest for 4 years until he deposits R 2500 more into the account. After that, Mark leaves the money in the account until 11 years after his original deposit. How much money will be in the account in the end?

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The total amount in Mark's account after 11 years is approximately R 14630.00.

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