Osborne Chambers
04/20/2024 · Middle School
3. Tim buys unit trusts for R25 000 . After eight years he sells them for R63 000 . a) Calculate a compound interest rate that would yield the same return. b) Calculate a simple interest rate that would provide the same growth. 4. Palesa buys a house for R850 000 .
UpStudy ThothAI Solution
Tutor-Verified Answer
Quick Answer
a) The compound interest rate is approximately 28.4%.
b) The simple interest rate is approximately 19%.
Step-by-step Solution
Answered by UpStudy AI and reviewed by a Professional Tutor
UpStudy ThothAI
Self-Developed and Ever-Improving
Thoth AI product is constantly being upgraded and optimized.
Covers All Major Subjects
Capable of handling homework in math, chemistry, biology, physics, and more.
Instant and Accurate
Provides immediate and precise solutions and guidance.
Try Now
Ask Tutors
Ask AI
10x
Fastest way to Get Answers & Solutions
By text
Enter your question here…
By image
Re-Upload
Submit