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Question 3 (a) A certain bank offers an interest rate of 12,5% on a one-year fixed deposit and the interest is compounded at the end of the year. Suppose you invest p rands for one year, and at the end of the year the investment is worth R9 000. Calculate p. (5) (b) Find the time (in years) that it will take an initial investment of R2250 to double in value at an interest rate of 8,75% per annum, if the interest is compounded quarterly. (Give the answer correct to two decimal places by using a calculator.) (8) (c) In the year 2000 the population of the world was 6,1 billion. The doubling time of the world population is 20 years. In which year will the world population reach 100 billion if it continues to grow at the same rate? (You will need to use a calculator.) (9)

          Question 3
(a) A certain bank offers an interest rate of 12,5% on a one-year fixed deposit and the interest is compounded at the end of the year. Suppose you invest p rands for one year, and at the end of the year the investment is worth R9 000. Calculate p. (5)
(b) Find the time (in years) that it will take an initial investment of R2250 to double in value at an interest rate of 8,75% per annum, if the interest is compounded quarterly. (Give the answer correct to two decimal places by using a calculator.) (8)
(c) In the year 2000 the population of the world was 6,1 billion. The doubling time of the world population is 20 years. In which year will the world population reach 100 billion if it continues to grow at the same rate? (You will need to use a calculator.) (9)

Question 3
(a) A certain bank offers an interest rate of 12,5% on a one-year fixed deposit and the interest is compounded at the end of the year. Suppose you invest p rands for one year, and at the end of the year the investment is worth R9 000. Calculate p. (5)
(b) Find the time (in years) that it will take an initial investment of R2250 to double in value at an interest rate of 8,75% per annum, if the interest is compounded quarterly. (Give the answer correct to two decimal places by using a calculator.) (8)
(c) In the year 2000 the population of the world was 6,1 billion. The doubling time of the world population is 20 years. In which year will the world population reach 100 billion if it continues to grow at the same rate? (You will need to use a calculator.) (9)

Added by Stephen C.

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