Kelley May
12/04/2023 · Elementary School
An amount of \( \mathrm{R} 2600,00 \) is deposited into a savings account; 12 months later, R1 200,00 is added to the account. The interest rate is \( 7,00 \% \) per annum, compounded semi-annually for the first yeal and \( 10,00 \% \) per annum, compounded annually for the second year. The total amount in the account by the end of two years, rounded to the nearest rand, is a. R4 384 . b. R3 918 .
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The total amount in the account after two years is approximately R4384.
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