Peters Salinas
03/06/2024 · Middle School

The value of a property increased from R145 000 to R221 292,32 over 6 years. Calculate the average annual rate of increase of the property over 6 years. Tebogo made an initial deposit of R15 000 into an account that paid interest at \( 9,6 \% \) p.a., compounded quarterly. Six months later she withdrew R5 000 from the account. Two years after the initial deposit she deposited another R3 500 into this account. How much does she have in the account 3 years after her initial deposit?

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The average annual rate of increase of the property over 6 years is approximately 7.3%. After 3 years, Tebogo has approximately R19,580 in her account.

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